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

2 Feb 2021Evening 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

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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