The price is testing an important resistance of 0.3$ after a bounce on the weekly support. The price is trying to have a breakout from the dynamic daily resistance and static monthly one.
On the 4h timeframe we can see how the price had a breakout from the previous resistance on 0.28$ with a nice retest.
How to approach?
If the price is going to have a breakout from the monthly resistance and retest it as new support, we can add in our watchlist and wait for applying our rules for a new long position
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Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
On the 4h timeframe we can see how the price had a breakout from the previous resistance on 0.28$ with a nice retest.
How to approach?
If the price is going to have a breakout from the monthly resistance and retest it as new support, we can add in our watchlist and wait for applying 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.
