FIOBTC
#FIO Protocol BTCA good point to enter and make some profits in the medium term
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FIOBTC Double Bottom| Liquidity Run| Dynamic Resistance| PAEvening Traders,
Today’s analysis, FIOBTC trading towards a probable double bottom structure, confirmation will be on the break of dynamic resistance.
Points to consider,
- PA approaching trade location
- Equal lows (liquidity run)
- Key dynamic resistance
- Oscillators over-extended
- Swing high target
FIOBTC’s price action is approaching a key trade location where a pivot bullish is probable. This will establish a double bottom in the market structure.
The equal lows increases the probability of a liquidity run, price action closing above with a wick will be indicative.
Breaking the dynamic resistance will confirm trend reversal with the immediate target swing high.
Oscillators both are overextended reaching oversold conditions; this indicates an oversold bounce being probable as price reaches liquidity.
Overall, in my opinion, FIOBTC breaking dynamic resistance will allow for a valid long into swing high. Price action is to be used upon discretion/ management of trade.
What are your thoughts?
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And remember,
“If you can learn to create a state of mind that is not affected by the market’s behavior, the struggle will cease to exist.” – Mark Douglas
