SOLUSD|Monthly S/R| POC| Swing Low| .618 Fibonacci
Evening Traders,
Todays analysis – SOLUSDT – trading in a descending channel where a where a continuation is probable,
Points to consider,
- Price Action Corrective
- POC Resistance
- Monthly S/R Support
- Low Volume
SWOLUSDT’s immediate price action is trading in a local down trend, a bounce from the current POC is possible before a larger correction towards the swing low.
The low is in confluence with the channel support and the .+18 Fiboancci, increasing the probability of a bounce.
The current volume profile is below average, an influx is needed for continued strength once the bounce solidifies.
Overall, in my opinion, SOLUSDT 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,
“Trading mastery is a state of complete acceptance of probability, not a state of fight it.”
― Yvan Byeajee
Todays analysis – SOLUSDT – trading in a descending channel where a where a continuation is probable,
Points to consider,
- Price Action Corrective
- POC Resistance
- Monthly S/R Support
- Low Volume
SWOLUSDT’s immediate price action is trading in a local down trend, a bounce from the current POC is possible before a larger correction towards the swing low.
The low is in confluence with the channel support and the .+18 Fiboancci, increasing the probability of a bounce.
The current volume profile is below average, an influx is needed for continued strength once the bounce solidifies.
Overall, in my opinion, SOLUSDT 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,
“Trading mastery is a state of complete acceptance of probability, not a state of fight it.”
― Yvan Byeajee