IOTAUSDT Local S/R| Swing High| Price Action| Trend Evening Traders,
Today’s analysis – IOTAUSDT – trading above its local S/R where in impulse is probable,
Points to consider,
- Price Action Impulsive
- Local S/R Support
- Swing High Objective
- Low Volume
IOTAUSDT’s immediate price action is resting on support that is in confluence with the Local S/R and the .50 Fibonacci – this allows for a long bias.
The swing high is the current objective, exceeding this level increases the probability of a trend continuation.
The volume profile as of current is below average, an influx is highly imminent when an expansion occurs.
Overall, in my opinion, IOTAUSDT 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,
“Fear, inherently, is not meant to limit you. Fear is the brain’s way of saying that there is something important for you to overcome.” ― Yvan Byeajee
