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- METISUSDT Key Support| Trend Change? Higher Low?
METISUSDT Key Support| Trend Change? Higher Low?
Re-testing the lower Daily S/R Support will confirm a Rounded Bullish Retest, this will also tap into the .618 Fibonacci and confirm a higher low in the local up-trend.
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METISUSDT Long Trade 📈
In Today’s analysis -METISUSDT-rejecting from a clean Daily Resistance, now resting above its local Value Area High with a lower support projection.
Points to consider ✍️
Value Area High
Daily S/R Resistance
Point of Control
.618 Fibonacci S/R Support
Swing High Objective
METISUSDT bouncing from Value Area High after first test, loosing this area will allow for lower support to be tested, an area of multiple technical confluences.
Re-testing the lower Daily S/R Support will confirm a Rounded Bullish Retest, this will also tap into the .618 Fibonacci and confirm a higher low in the local up-trend.
Overall, in from Bitcoin Insider’s perspective, METIUSDT is a valid long with defined risk, price action it to be used upon discretion/ management when testing lower support. ✍️
Hope this analysis helps.
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