The price is creating a pennant below the daily resistance and the price had a false breakout. On the daily timeframe, the price tested the 0.618 Fibonacci level with a nice candle.
As you can see on the left the price created a W pattern and now the price is trying to have a breakout from the neckline.
How to approach? The price needs to have a breakout from the weekly resistance and retest the daily resistance as support on 3200$, According to Plancton's strategy, we can set a nice order ––––– Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
––––– Follow the Shrimp 🦐
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The price is testing the resistance as I told you 👀