DOTBTC Local S/R| 200 MA Support| Swing High| Daily S/R

23 нояб. 2020 г.

Evening Traders,

Today’s analysis – DOTBTC- trading above local, maintain these regions is bullish in the immediate terms,

Points to consider,
- Price Action Bullish
- Local S/R Support (.382 Fibonacci Confluence)
- Daily S/R Target
- Declining Volume
- RSI Bullish Control

DOTBTC’s immediate price action is being accepted above Local S/R, this allows us to have a bullish bias on the market.

The Local S/R is in technical confluence with the .382 Fibonacci and 200 MA, price action has currently respected this level.

Daily S/R is current target, price action exceeding this level will increase the probability of trend continuation.

The volume profile is indicative of declining volume after an influx, this suggest a true break of Local S/R. Follow through in volume is required for a trend continuation.

The RSI is in its bullish control zone, remaining in these levels is critical for market strength.

Over all, in my opinion, DOTBTC 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 goal of a successful trader is to make the best trades. Money is secondary. – Alexander Elder