Key spot on the board for SOFI On the MonthlyNever financial advice. Just offering perspective.
At a key spot for Sofi. In the midst of a monthly bearish imbalance, specifically a bearish fair value gap which holds more weight than a volume imbalance. We pushed off a bullish breaker which can be a solid indicator as a push up, with the the high of that green box acting as a support, followed by a strong bullish move.
16.47-17.13 is where the monthly bearish fvg begins and ends.
A monthly close(13days) above 17.13 would be encouraging for bulls, with no bearish imbalances on this higher timeframe.
If we cannot get a monthly candle close above 17.13 we can see a strong rejection, setting a new bullish range from most recent low to high, which we can then see a move back into discount.
My ideal bearish outlook: Monthly bearish imbalance reject, which is currently at 50% bearish discount, to retest bullish breaker + bullish fvg + monthly liquidity sitting at the low of previous month10.63. Targeting ----> 8.53- 10.63.
Ideal bullish outlook(continuation):
Monthly bearish imbalance mitigated here with a monthly candle close above here. Next points of liquidity ---24.65---24.95 as targets.
Ideal bullish outlook(entry or reentry):
Entering ----> 8.53- 10.63.
Be aware that this analysis is on a higher timeframe of a Monthly perspective and may take time to develop.
