BANDUSDT is creating a descending channel

BANDUSDT is creating a descending channel and now the price is testing the 4h resistance.
IF the price is going to have a breakout, According to Plancton's strategy(check our Academy), we can set a nice order
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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.
  
• ⚫️ Black structure -> <4h structure.
  

Yorum:

The price is in the accumulation zone between daily structures and inside a descending channel on the Daily Timeframe.
The price tried a breakout but for a rejection from the 0.618 Fibonacci level.

How to approach?
IF the price is going to have a breakout of the daily resistance (around 5.9$) and retest the previous resistance as new support, we can look for apply our Rules for a new long position