SRMBTC Bullish Scenario| Falling Wedge| Structural S/R| Apex| PA

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Evening Traders.

Second analysis – SRMBTC –trading in a probable falling wedge that needs to break resistance for confirmation,

Points to consider,
- Trend approaching apex
- Structural S/R (support)
- Possible bullish divergence forming
- Stochastics buy cross

SRMBTC’s trend is approaching its apex where a break will be imminent; breaking bullish will confirm the falling wedge pattern.

The immediate target for SRMBTC will be swing high

Structural S/R is current support that is likely to get tested, establishing a new local lower low will increase the probability of an RSI bullish divergence.

The stochastic is currently showing a buy cross; momentum needs to shift above 30 for confirmation.

Overall, in my opinion, SRMBTC is a valid long trade upon confirmation of the falling wedge pattern. Price action is to be used upon discretion/ management of the trade.

Hope this analysis helps!

Thank you for following my work!

And remember,

“Trade the market in front of you, not the one you want!” – Scott Redler