Today’s analysis – XVSUSDT- trading at a key location where an impulse is highly probable,
Points to consider, - Price action impulsive - Local S/R support - Swing High objective - Bullish OB - .50 Fibonacci
XVSUSDT’s immediate price action is impulsive, trading above its Local S/R Support after bouncing from its Bullish OB, allows for a bullish bias.
The .50 Fibonacci is current resistance; exceeding this level will increase the probability of testing the current swing high.
Both oscillators are working towards there expected bullish control zones, remaining in these regions will be indicative of strength.
Overall, in my opinion- XVSUSDT is a valid long with defined risk; price action is to be used upon discretion/ management.
Hope this analysis helps,
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“It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you‘re wrong.” -George Soros