The price tested the weekly support on the 0.33$ after a rejection from the daily resistance of 0.48$.
On the lower timeframe, the price is testing the 4h resistance at 0.38$ .
How to approach?
The price is in the consolidation phase below the resistance and dynamic daily resistance. We are waiting for the breakout of it and retest as new support. Of course a breakout is not enough, the market needs to satisfy our rules for a new long position
––––
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
On the lower timeframe, the price is testing the 4h resistance at 0.38$ .
How to approach?
The price is in the consolidation phase below the resistance and dynamic daily resistance. We are waiting for the breakout of it and retest as new support. Of course a breakout is not enough, the market needs to satisfy our rules for a new long position
––––
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
