XTZUSDT Daily S/R| .50 Fibonacci| Swing High| Price Action

Evening Traders,

Today’s analysis – XTZUSDT- trading above Local S/R where a pullback is probable,

Points to consider,
- Price action impulsive
- Local S/R Support
(.50 Fibonacci Confluence)
- Swing High Objective
- Oscillators Extended
- Volume Influx

XTZUSDT’s immediate price action is impulsive above Local S/R that has technical confluence with the .50 Fibonacci- this allows us to have a bullish bias.

The swing high is current objective; price action exceeding this level will test Daily S/R

Both oscillators are currently trading over-extended; a reversion to their means is highly probable on a pull back.

The volume profile has a valid influx node, price action needs bull volume follow through to maintain strength.

Overall, in my opinion, XTZUSDT 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,

“Gamblers obsess with big potential upside windfall profits. Intelligent speculators obsess with managing downside risk.” Peter Brandt