ELABTC Range Low| Volume Influx| Price Action| Trend

Evening Traders,

Today’s analysis – ELABTC – trading above its Range Low where a bullish retest is probable,

Points to consider,
- Price Action Impulsive
- Range Low Support
(.382 Fibonacci Confluence)
- Range High Objective
- Volume Influx

ELABTC’s immediate price action is impulsive, breaking a key level allows for a bullish bias on the retest that has confluence with the .382 Fibonacci.

The immediate objective is the swing high, exceeding this level increases the probability of a trend continuation.

Current volume profile has an influx, follow through is critical to sustain strength.

Overall, in my opinion, ELABTC 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,

“In order to succeed, you first have to be willing to experience failure.”
― Yvan Byeaje