Description
⋅ Evening Traders,
Today’s analysis – GVTBTC – trading below its Weekly S/R, breaking with acceptance is deemed bullish.
Points to consider,
- Price Action Impulsive
- Weekly OB Support
- Weekly S/R Objective
- Oscillators Bullish Control Zone
GVTBTC’s immediate price action is range bound between the Weekly OB and the Weekly S/R, a breach of the Weekly S/R will allow for a bullish bias.
The Current Price Action objective is the Weekly S/R Resistance, breaching this is critical for a send.
Both oscillators are trading in their respective bullish control zones, remaining in these regions is critical for sustained strength.
Overall, in my opinion – GVTBTC is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“The market can stay irrational longer than you can stay solvent.” – John Maynard Keynes