GALAUSDT is testing the support
Updated
The price is testing the daily support after a breakout from the dynamic resistance without volume.
On the 4h timeframe, the price is trying to have a breakout from the dynamic 4h resistance.
How to approach?
IF the price is going to have a breakout from the 4h support on 0.2$ and retest as new resistance, we can add it to our watchlist and wait to apply our rules for open a new short position. The scenario is invalidated if the price is going to have a breakout of 0.24$ with confirmations
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Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
On the 4h timeframe, the price is trying to have a breakout from the dynamic 4h resistance.
How to approach?
IF the price is going to have a breakout from the 4h support on 0.2$ and retest as new resistance, we can add it to our watchlist and wait to apply our rules for open a new short position. The scenario is invalidated if the price is going to have a breakout of 0.24$ with confirmations
––––
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
Note
The price is following my drawing so far, wait for the breakoutNote
The setup is still valid, bear if the price is going to break the support
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