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Today’s report will include:

POPCAT Technical Analysis
Market Psychology
Trading Tools

POPCAT RESISTANCE ZONE

POPCAT is trading at an area of resistance where a rejection for lower gravitating support is likely. Forming a bearish lower time-frame structure will be a telling sign for lower prices to come.

Points to consider

.618 Fibonacci Support and resistance
Order Block resistance
Points of Control Resistance
Value Area Low Support
Daily S/R Support and Resistance

The recent impulse in price action was simply a run of liquidity, the subsequent decline in price action confirmed this. POPCAT now is dealing with a region of resistance that consists the .618 Fibonacci, Daily S/R resistance and a Order Block S/R. Spiking into this area can result in a potential wick.

A key swing low remains intact, this places an emphasis on the remaining untapped liquidity. Price action visiting this area will test the lower .618 Fibonacci support alongside the value area low and the Daily support.

Overall, from a technical perspective, price action is trading at an area of resistance where a rejection will confirm a trading range. A short is only valid when there is a Entry Model given,

Hope this analysis helps.

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