做多

RVN Structural S/R Flip| Pivot Point| .618 Fibonacci| RSI Wedge

Evening Traders,

Today’s Analysis – RENBTC – trading above structural level with Fibonacci confluence, RENBTC is likely to rise up validation of this level.

Points to consider,
- Structural S/R Flip (Retest)
- Technical Confluence (Trade location)
- RSI Falling Wedge pattern
- Bull Impulses (PA validation)

RENBTC is re-testing its structural S/R flip; further candle closes will solidify the level. This is a key support with technical confluence; market structure, key Fibonacci level (.618) and a Fibonacci Extension.

This indicates a true trade location and a pivotal point on the chart

The RSI is in a falling wedge pattern, breaking in either direction will dictate the overall trend. Stochastics are over extended, can stay trading here for an extended time, momentum is stored to the upside upon a valid buy cross.

Overall, in my opinion, price action will dictate the overall trend, strong bull impulses will be a sign of a probable parabola. Validating support will be very bullish, RENBTC will likely rise to Fibonacci targets.

What are your thoughts?

Please leave a like and comment,

And remember,

“Dangers of watching every tick are twofold: overtrading and increased chances of prematurely liquidating good positions” – Jack Schwager

The_Alchemist_Trader_

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 ⚔️

免责声明

这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。

The_Alchemist_Trader_