SOLUSDT Bullish uptrend| Local PA Range| Daily S/R| .618

1 feb 2023

Evening Traders,

Today’s analysis – SOLUSDT- trading in a defined range where an up-thrust into resistance is probable,

Points to consider,
- Price action impulsive
- Daily S/R Support
- .618 Fibonacci Support
- MS Higher Low

SOLUSDT’s immediate price action is impulsive, it is potentially establishing a higher low that is in confluence with the .618 Fibonacci, Daily S/R and the VAL, allowing for a bullish bias.

The immediate market structure remains bullish, thus, there is a higher probability of price action testing resistance again.

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,

Thank you for following my work

And remember,

If you can’t take a small loss, sooner or later you will take the mother of all losses.” – Ed Seykota