The price had a breakout from the descending channel and created a rounded bottom above the weekly support.
on the 4h timeframe, the price is testing the 0.3$ resistance and the market is in a consolidation phase between the weekly and daily structures.

The price already retested a Fibonacci level of the 0.382 Fibonacci level

How to approach?
The price needs a new breakout from the confluence zone, above the 0.31$ with the retest. So if the price is going to have a breakout, 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 🦐