LIT / TetherUSLong
LITUSDT Weekly S/R| .618 Fibonacci| Price Action| Trend
Evening Traders,
Today’s analysis – LITUSDT – rejecting from its .618 Fibonacii and is now trading below key resistance,
Points to consider,
- Price action impulsive
- Daily S/R Resistance
- Weekly S/R Support
- Price Action Range
LITUSDT’s immediate price action is trading under resistance, as long as price stay below, it is likely to trade lower.
The Weekly S/R is the immediate support, holding this area will create a local price action range, allowing for potential accumulation.
How price action trades within the range will dictate the immolate direction
Overall, in my opinion, LITUSDT needs form a constructive range before the next expansion
Hope this analysis helps,
Thank you for following my work
And remember,
“Once you find the system that works for your style/personality and confidence is gained, wash, rinse, repeat over and over again.” – Sunrisetrader
Today’s analysis – LITUSDT – rejecting from its .618 Fibonacii and is now trading below key resistance,
Points to consider,
- Price action impulsive
- Daily S/R Resistance
- Weekly S/R Support
- Price Action Range
LITUSDT’s immediate price action is trading under resistance, as long as price stay below, it is likely to trade lower.
The Weekly S/R is the immediate support, holding this area will create a local price action range, allowing for potential accumulation.
How price action trades within the range will dictate the immolate direction
Overall, in my opinion, LITUSDT needs form a constructive range before the next expansion
Hope this analysis helps,
Thank you for following my work
And remember,
“Once you find the system that works for your style/personality and confidence is gained, wash, rinse, repeat over and over again.” – Sunrisetrader
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