Evening Traders,
Today’s analysis – DOTBTC – trading above Local S/R forming a potential higher low,
Points to consider,
- Price Action Impulsive
- Local S/R Support
- POC Resistance
- Declining Volume
- Double Bullish Divergence (RSI & Stochastics)
- Swing High Objective
DOTBTC’s immediate price action is showing strength at Local S/R, respecting this level allows us to have a bullish bias.
The current resistance is the local POC, breaking this level with conviction will increase the probability of a structural higher low.
Volume is on a decline which is indicative of an influx at a key trade location, currently being at one.
There is a valid double bullish divergence, the RSI and Stochastics are showing a higher low in respect to price action making a lower low, again signalling strength.
Overall, in my opinion, DOTBTC is a valid long with swing higher being the objective. Price Action is to be used upon discretion/ management.
Hope this analysis helps!
Thank you for following my work
And remember,
Trading is mostly a waiting game. if you want action that happens on your own terms, you’re in the wrong field.
Today’s analysis – DOTBTC – trading above Local S/R forming a potential higher low,
Points to consider,
- Price Action Impulsive
- Local S/R Support
- POC Resistance
- Declining Volume
- Double Bullish Divergence (RSI & Stochastics)
- Swing High Objective
DOTBTC’s immediate price action is showing strength at Local S/R, respecting this level allows us to have a bullish bias.
The current resistance is the local POC, breaking this level with conviction will increase the probability of a structural higher low.
Volume is on a decline which is indicative of an influx at a key trade location, currently being at one.
There is a valid double bullish divergence, the RSI and Stochastics are showing a higher low in respect to price action making a lower low, again signalling strength.
Overall, in my opinion, DOTBTC is a valid long with swing higher being the objective. Price Action is to be used upon discretion/ management.
Hope this analysis helps!
Thank you for following my work
And remember,
Trading is mostly a waiting game. if you want action that happens on your own terms, you’re in the wrong field.
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— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.