Today’s analysis – WABIBTC – trading between two key level, hinting a probable accumulation phase.
Points to consider,
- Price Action Rotation
- Daily S/R Support
- Monthly S/R Resistance
- Control Zone
WABIBTC’s immediate price action is showing signs of rotation, thus accumulation is porbable before an expansion above the Monthly S/R.
The Current Support is the Daily S/R, holding this level is critical for a sustained floor in price action.
The is trading in its control zone, remaining in here will be indicative of strength.
Overall, in my opinion, WABIBTC is a only a valid long above the Monthly S/R with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
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“Don't blindly follow someone, follow market and try to hear what it is telling you.” ― Jaymin Shah