BEAMUSDT Local S/R| Swing High| .382 Fibonacci| Price Action

2 Feb 2021

Evening Traders,

Today’s analysis – BEAMUSDT – trading above Local S/R with technical confluence, a bullish reaction is probable,

Points to consider,
- Price Action Impulsive
- Local S/R Support
(.382 Fibonacci Confluence)
- Swing High Objective
- Oscillators Bullish Control

BEAMUSDT’s immediate price action is impulsive, testing a key trade location that has technical confluence with the .382 Fibonacci and a bullish order block, allowing for a bullish bias.

The Swing High is current objective, exceeding this level will likely lead to a trend continuation.

Both oscillators are currently trading neutral, remaining in their bullish control zones is indicative of strength.

Overall, in my opinion, BEAMUSDT 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,

“You become fearful the moment you identify with fear. But once you begin seeing it as an impersonal changing phenomenon, you become free.”
― Yvan Byeajee