The price broke below the cyan line of the oscillation channel and tested the blue average support zone, but rebounded without entering it. Currently, it is blocked at the cyan line position;

At the same time, the 4-hour price pattern looks very much like a descending expanding wedge, which is usually a bullish reversal pattern after an oscillation pullback. However, the difficulty lies in not being able to enter on the left side, as it is uncertain whether it will test lower again...

Therefore, in conjunction with the status of the ASR channel, if the price dips towards the blue average support zone again and touches the lower edge of the descending expanding wedge, it will perfectly match the synchronicity of the pattern and indicators. Then we can consider whether the pullback has been completed and whether to start the rebound;

If preparing for two scenarios, even if further pullbacks occur, I do not recommend going short or chasing shorts, as the price is close to the lower edge of the channel, resulting in a poor risk-reward ratio;

However, if waiting for the pullback to complete and the rebound to break the upper edge of the descending wedge (which happens to be the cyan line), entering on the right side to go long would be a very good choice;

Overall, when the price is near the lower edge of the 4-hour channel in an oscillating market, it is generally not recommended to chase shorts. The best shorting position is at the middle track or the yellow line, but since the price is currently maintaining in the lower half of the oscillation channel, it generally favors bears;

Therefore, for those who are bullish, it is best to go long on the right side (breaking the upper edge of the descending wedge), as the difference is not significant;

For those who are bearish, one can short-term bet on the price again pulling back towards the lower edge of the expanding wedge and the blue support zone, or simply wait for the price to rebound to near the middle track before considering.