the price tested again the 0.786 Fibonacci level on the monthly timeframe and have a breakout from the descending channel on the weekly timeframe .

As you can see the price has a confluence on 227$.
On the 4h timeframe the price created a descending channel had a breakout but without momentum.

So How we can approach it?
If the price is going to loose the support, 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 🦐