The price created a double bottom on the daily timeframe on 20$ and got a rejection from the 0.618 Fibonacci level on 24.76$
on the 4H timeframe, the price is creating the higher high and higher low, and now the wants to confirm the previous resistance as new support on 24$.
How to approach?
We are monitoring the price action, and we are waiting for a bounce on the 0.618 Fibonacci level. If the price is going to confirm the flip and satisfy our rules, we could see a bounce until 26$.
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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, the price is creating the higher high and higher low, and now the wants to confirm the previous resistance as new support on 24$.
How to approach?
We are monitoring the price action, and we are waiting for a bounce on the 0.618 Fibonacci level. If the price is going to confirm the flip and satisfy our rules, we could see a bounce until 26$.
––––
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
