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 ⚔️
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
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 ⚔️
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.