ALPHA/USDTPERP Long-Term Trend: Bearish
Key Resistance Levels: 0.94675, 1.06875, 1.14920.
Key Support Levels: 0.82905, 0.72545, 0.64545.
The price on the higher time frame posted a bearish engulfing bearish pattern which led to a reversal and a move downward. The price succeeded to break the daily support around the 0.94675 USDT mark and continued its downward movement.
ALPHA/USDTPERP Medium-Term Trend: Bearish
On the lower time frame, the price managed to break the wedge formation after reaching a strong resistance. This led to a reversal and a move to the downside. We are expecting a higher correction to the highlighted zone before a new impulsive wave to the downside.
Sell Limit Order @ 0.89980
TP 1 @ 0.83095
TP 2 @ 0.82905
Stop Loss @ 0.92345
Trade Safely 🙂