Evening Traders,
Today’s analysis – DOTUSDT – trading towards a key resistance where a rejection is plausible,
Points to consider,
- Price Action Impulsive
- Monthly S/R Resistance
- .786 Fibonacci Confluence
- Daily S/R Objective
DOTUSDT’s immediate price action is trading towards a clear resistance point that has technical confluence with the .786 Fibonacci, VAH and a Monthly S/R, allowing for a bearish bias.
The immediate objective will be the Daily S/R support, exceeding this level will lead to a much deeper pull back.
Overall, in my opinion, DOTUSDT is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
Today’s analysis – DOTUSDT – trading towards a key resistance where a rejection is plausible,
Points to consider,
- Price Action Impulsive
- Monthly S/R Resistance
- .786 Fibonacci Confluence
- Daily S/R Objective
DOTUSDT’s immediate price action is trading towards a clear resistance point that has technical confluence with the .786 Fibonacci, VAH and a Monthly S/R, allowing for a bearish bias.
The immediate objective will be the Daily S/R support, exceeding this level will lead to a much deeper pull back.
Overall, in my opinion, DOTUSDT is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
Unlock upto $8,000 USDT in bonuses, only at MEXC - Link Below to start Trading.
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mexc.com/acquisition/custom-sign-up?shareCode=mexc-2zypg
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Unlock upto $8,000 USDT in bonuses, only at MEXC - Link Below to start Trading.
mexc.com/acquisition/custom-sign-up?shareCode=mexc-2zypg
mexc.com/acquisition/custom-sign-up?shareCode=mexc-2zypg
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.