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BAL/USDT (Futures) Potential Upward Movement

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

Key Resistance Levels: 24.263, 28.422, 29.000.

Key Support Levels: 22.286, 18.884, 18.800.

Daily Chart:

The price on the higher time frame found support around the 18.884 USDT mark where the market reversed and moved higher and managed to break the daily resistance (now support) around the 22.286 USDT level. This could lead to a further move to the upside toward the target profit which is the 24.263 USDT mark.

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

4-Hour Chart:

On the lower time frame, the coin managed to break the bullish flag formation to the upside after finding bulls around the 50% Fibonacci retracement level. A lower correction could be seen to the support around the 22.286 USDT before a new move upward toward the target profit.

Signal Idea:

Buy Limit Order @ 22.350

TP 1 @ 24.215

TP 2 @ 28.422

Stop Loss @ 21.416

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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