SLPUSDT PA Range| Swing High| Fibonacci Extension| Accumulation

13 ส.ค. 2021

Evening Traders,

Today’s analysis – SLPUSDT – trading towards its range low with possible accumulation,

Points to consider,
- Price Action Corrective
- Range Low Support
- Range High Resistance
- Low Volume
- RSI Bearish Control Zone

SLPUSDT’s immediate price action is trading towards its range low where there is technical confluence with an order block, allowing for a bullish bias.

The range high is the immediate resistance, exceeding this level will lead to a trend continuation, the break however needs to be backed with increasing volume.

The RSI is currently trading in its bearish control zone, reclaiming the mid-point will be indicative of strength.

Overall, in my opinion, SLPUSDT 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,

“Trading effectively is about assessing probabilities, not certainties.”
― Yvan Byeajee