The price is testing the important Weekly support on 1792$
On the 4h timeframe the price had a breakout from the falling wedge and got a rejection from the 4h resistance on 1935$.
The market creates a demand zone between the weekly support 1792$ and 4h support 1748
How to approach?
The price could get the liquidity from the demand zone and create a new bullish impulse above the 4h resistance 1870$ and retest again the 1935$ resistance if the market is going to satisfy our rules
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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 had a breakout from the falling wedge and got a rejection from the 4h resistance on 1935$.
The market creates a demand zone between the weekly support 1792$ and 4h support 1748
How to approach?
The price could get the liquidity from the demand zone and create a new bullish impulse above the 4h resistance 1870$ and retest again the 1935$ resistance if the market is going to satisfy our rules
––––
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
