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ALGO/USDT (Futures) Potential Upward Movement

ALGO/USDT (Futures) Long-Term Trend: Bullish

Key Resistance Levels: 0.7609, 0.7747, 0.78000.

Key Support Levels: 0.7507, 0.7374, 0.7281.

1-Hr Time Frame:

The price on the higher time frame failed to break the strong support around the 0.7500 USDT mark where the price rebounded and closed above the bespoke support. An engulfing bullish pattern has been posted showing that the buyers are in control of the market.

ALGO/USDT (Futures) Medium-Term Trend: Bullish

10-Mins Time Frame:

On the lower time frame, the buyers succeeded to break the bearish trend line to the upside after a double bottom formation. A lower correction has been posted to the support level to bring back liquidity before a new bullish impulsive wave toward the target profits.

Buy Market Order @ 0.7511

Target Profit 1 @ 0.7609

Target Profit 2 @ 0.7747

Stop Loss @ 0.7413

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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