Today’s analysis – CRVUSDT- establishing a confirmed trend change from is local double bottom, further upside probable. Points to consider, - Price Action Bullish - Daily S/R Support - .50 Fibonacci/ 200 MA ( lower high region) - RSI Bullish Control Zone - Volume Influxes
CRVUSDT’s immediate price action is bullish above Daily S/R, establishing a new swing high; this allows us to have a bullish bias.
The Daily SR is immediate support, breaking this below will allow for a deeper pullback, establishing a potential trend higher low.
The .50 Fibonacci zone is a crucial level to maintain, the current 200 MA is coming in as dynamic support. Price action respecting these levels will maintain a bullish market structure.
The Volume profile is currently above average, indicative of a true trend change as bull volume follow through is present.
Overall, in my opinion, CRVUSDT is a valid long with define risk; price action is to be used upon discretion/ management.
Hope this analysis helps!
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