The price is creating a pennant on weekly support of 44200$ after a rejection from 47k , where the market has a supply zone .

on the daily timeframe , the price is testing the previous resistance as new support.

How to approach?
The price is creating a pennant and retesting the lower trendline. The price needs a new breakout from it and flip the 47k resistance into support and satisfy our rules.
The scenario is invalidated if the price is going to lose the 44200$
According to Plancton’s strategy, we can set a nice order
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Keep in mind.

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

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Follow the Shrimp 🦐