SOLBTC Rising Channel| PA Range| HTF Levels| Trend
Evening Traders,
Today’s analysis – SOLBTC – trading at a range high where a rotation towards the downside is probable for a long play,
Points to consider,
- Price Action Impulse
- Weekly S/R Resistance
- Daily S/R Support
- Low Volume
SOLDBTC’s immediate price action is impulse and is trading at a key weekly resistance, thus a rejection is probable to the lower daily support where there is technical confluence with the POC and the .618 Fiboancci, allowing for a long bias.
The current volume profile is declining, thus an impulse in volume is likely on the next expansion.
The RSI is trading at neutral, remaining in its bullish control zone is indicative of strength.
Overall, in my opinion, SOLBTC is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
“The obvious rarely happens, the unexpected constantly occurs.” – Jesse Livermore
Today’s analysis – SOLBTC – trading at a range high where a rotation towards the downside is probable for a long play,
Points to consider,
- Price Action Impulse
- Weekly S/R Resistance
- Daily S/R Support
- Low Volume
SOLDBTC’s immediate price action is impulse and is trading at a key weekly resistance, thus a rejection is probable to the lower daily support where there is technical confluence with the POC and the .618 Fiboancci, allowing for a long bias.
The current volume profile is declining, thus an impulse in volume is likely on the next expansion.
The RSI is trading at neutral, remaining in its bullish control zone is indicative of strength.
Overall, in my opinion, SOLBTC is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
“The obvious rarely happens, the unexpected constantly occurs.” – Jesse Livermore