ATOMUSDT Local OB| .618 Fibonacci| Price Action| Trend
Evening Traders,
Today’s analysis – ATOMUSDT- rejection of from an order block, allowing for a move down,
Points to consider,
- Price Action Corrective
- Local OB Resistance
- Local OB Support
- .618 Fibonacci Support
- Low Volume
ATOMUSDT’s immediate price action is rejecting of from a Local OB Resistance, trading towards the support level that has technical confluence with the .618 Fiboancci and OB, allowing for a bullish bias.
The current volume is below average, an influx is highly imminent of the next expansion.
Holding the support region is critical for a bullish market structure, failure to hold will be indicative of weakness.
Overall, in my opinion, ATMUSDT 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,
“Genuine acceptance that there will be losses on your way to market success will greatly decrease the hurt when they eventually come.”
― yvan Byeajee
Today’s analysis – ATOMUSDT- rejection of from an order block, allowing for a move down,
Points to consider,
- Price Action Corrective
- Local OB Resistance
- Local OB Support
- .618 Fibonacci Support
- Low Volume
ATOMUSDT’s immediate price action is rejecting of from a Local OB Resistance, trading towards the support level that has technical confluence with the .618 Fiboancci and OB, allowing for a bullish bias.
The current volume is below average, an influx is highly imminent of the next expansion.
Holding the support region is critical for a bullish market structure, failure to hold will be indicative of weakness.
Overall, in my opinion, ATMUSDT 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,
“Genuine acceptance that there will be losses on your way to market success will greatly decrease the hurt when they eventually come.”
― yvan Byeajee