COIN Local OB| Dynamic S/R| Price Action| Trend

Evening Traders,

Today’s analysis – COIN – trading above its Local OB that is acting a current support,

Points to consider,
- Price Action Impulsive
- Dynamic S/R Support
- 1.618 Extension Target
- Low Volume
- RSI Bullish Control

COIN immediate price action is impulsive, trading above its Local OB where a deviation to the highs allows for a bullish bias.

The 1.618 Fibonacci Extension is the immediate target, exceeding this will increase the probability of a trend continuation.

The current Volume node is below average, an increase is highly imminent when an expansion occurs.

The RSI is trading in its bullish control zone, reaming in these regions is indicative of strength.

Overall, in my opinion, COIN 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,

“Trade the market in front of you, not the one you want!” – Scott Redler