ATOMUSDT Relief Bounce| Local OB| VWAP S/R| Trend
Evening Traders,
Today’s analysis – ATOMUSDT – trading towards a technical resistance location where a rejection is probable,
Points to consider,
- Price Action Corrective
- Local OB Resistance
(.618 Fibonacci, VWAP S/R Confluence)
- Low Volume
- RSI Extended
ATOMUSDT’s immediate price action is corrective and is approaching a bearish retest zone that has confluence with the .618 Fibonacci and the VWAP S/R, allowing for a bearish bias.
The current volume is low, an influx will be imminent on the next expansion.
The current RSI is overextended, a reversion to its mean is imminent.
Overall, in my opinion, ATOMUSDT is a valid short with defined risk; price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
“Every trader has strengths and weakness. Some are good holders of winners, but may hold their losers a little too long. Others may cut their winners a little short, but are quick to take their losses. As long as you stick to your own style, you get the good and bad in your own approach.” Michael Marcus
Today’s analysis – ATOMUSDT – trading towards a technical resistance location where a rejection is probable,
Points to consider,
- Price Action Corrective
- Local OB Resistance
(.618 Fibonacci, VWAP S/R Confluence)
- Low Volume
- RSI Extended
ATOMUSDT’s immediate price action is corrective and is approaching a bearish retest zone that has confluence with the .618 Fibonacci and the VWAP S/R, allowing for a bearish bias.
The current volume is low, an influx will be imminent on the next expansion.
The current RSI is overextended, a reversion to its mean is imminent.
Overall, in my opinion, ATOMUSDT is a valid short with defined risk; price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
“Every trader has strengths and weakness. Some are good holders of winners, but may hold their losers a little too long. Others may cut their winners a little short, but are quick to take their losses. As long as you stick to your own style, you get the good and bad in your own approach.” Michael Marcus