STX/USDT | Key Level | Support Cluster | Trade Setup

Todays Analysis – STX /USDT – Retracing to establish an S/R flip re-test of daily support.

Points to consider:
- Healthy Up-trend
- Support Confluence (key level)
- Declining Volume
- Oscillators Below 50

STXUSDT needs to hold the re-test of the daily support zone to form a higher low on the chart and continue its bullish uptrend.

The Support cluster also coincides with the 200 EMA and .618 Fibonacci retracement , putting emphasis on the key level.

Volume is declining and below average, usually an indication of an influx being imminent; likely to coincide with the retest of support.

Both the RSI and stochastics are testing the 50 level, further price development will determine a directional bias. Oscillators need to range above 50 to maintain strength and momentum in the market.

Overall, in my opinion, a successful re-test of support validates a long trade to technical targets above with risk defined below local swing low.

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And as always,

Focus on you, and the money will too!