WABIBTC Local OB| Weekly S/R| Price Action| .618 Fib

2 sie 2021

Evening Traders,

Today’s analysis – WABIBTC- trading at a local OB where a bounce to the highs is probable,

Points to consider,
- Price Action Impulsive
- Local OB Support
(1to1 Extension Confluence)
- Weekly S/R objective
(.618 Fibonacci Target)
- Climatic Node Present

WABIBTC’s immediate price action is trading at a Local Order Block with a 1 to 1 extension confluence, allowing for a bullish bias.

The objective is the weekly S/R where exceeding this level will make the target the .618 Fibonacci retracement of the recent swing high.

There is a climatic node present, indicative of a temporary bottom being set after the recent volatile move.

Overall, in my opinion, WABIBTC is bullish in the immediate short-term, price action is to be used upon discretion/ management.

Hope this analysis helps!

Thank you for following my work

And remember,

“The obvious rarely happens, the unexpected constantly occurs.” – Jesse Livermore