Today’s analysis – SOLUSDT – trading towards a key trade location where a bounce is probable,
Points to consider, - Price Action Impulsive - Local S/R Support (.618 Fibonacci Confluence) - Low Volume - RSI Bullish Control Zone
SOLUSDT’s immediate price action is impulsive and is trading towards its Local S/R that has technical confluence with the .618 Fibonacci, allowing for a bullish bias.
The current volume profile is below average, an influx is highly needed for an expansion.
The RSI is currently trading in its bullish control zone, remaining in these regions is indicative of strength.
Overall, in my opinion, SOLUSDT is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
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And remember,
“Win, loss whatever emerges in the short-term, place and manage your next trades untouched, unattached... always keeping your eyes on the long-term picture.”