The price is testing the monthly support on 29k after the breakdown from the daily support on 31800$.

On the 4h timeframe, the price is creating a channel above the monthly support.
How to approach it?
IF the price is going to have a breakout from the monthly support and grab new liquidity from the demand zone , we can add in our watchlist for a new long position according to Plancton’s rules
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Follow the Shrimp 🦐

Keep in mind.

• 🟣 Purple structure -> Monthly structure.
• 🔴 Red structure -> Weekly structure.
• 🔵 Blue structure -> Daily structure.
• 🟡 Yellow structure -> 4h structure.