SOLUSD Price Action Range| Price Discovery| Volume| Fibonacci

Nov 3, 2021

Evening Traders,

SOLUSD’s immediate price action is trading above its range, maintaining these regions will likely continue the trend,

Points to consider,

- Price Action Impulsive
- Price Discovery
- Blue Sky Breakout
- Declining Volume

SOLUSD’s immediate price action is leaving a consolidation phase where bullish continuation is probable.

The price discovery has technical Fibonacci targets situated at the 1.618 extension, temporary top here is likely to be placed.

The current volume profile is below average, an influx is highly imminent when an expansion occurs.

Overall, in my opinion, SOLUSD 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