CHZUSDT is testing the 0.5 Fibonacci level

The price had a breakout from the daily dynamic resistance and got a rejection from 0.24 where you can see the purple structure and monthly resistance.

The market lost the weekly support and now the price is testing the 0.5 Fibonacci level on the daily timeframe.
On the 4h timeframe, the price is creating an ascending channel and now the market is testing the lower trendline as new support

how to approach?
We are monitoring the price, we need to see a clear breakout from 0.21$ and weekly resistance. ONLY IF the price is going to have a breakout and retest the previous resistance as new 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 🦐

Yorum:

the price is trying to recover the previous weekly support. I'm waiting for the breakout and retest before applying my strategies.

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