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BEL/USDT (Futures) Potential Upward Movement

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

Key Resistance Levels: 2.8094, 2.8765, 2.9000.

Key Support Levels: 2.6341, 2.5527, 2.5500.

1-Hr Chart:

The price on the higher time frame succeeded to break the key resistance level (now support) around the 2.8094 USDT mark with the help of an engulfing bullish pattern near the support. This shows that the market is clearly controlled by the buyers where further movement to the upside could be seen in the coming hours.

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

15-Mins Chart:

On the lower time frame, the bulls manage to break the bullish flag pattern to the upside and now the price traded above the key resistance area in a small range. The market found more bulls around the new support zone which could lead to further upward movement. Before this move a lower correction could be seen to the new support.

Signal Idea:

Buy Limit Order @ 2.6428

TP 1 @ 2.8014

TP 2 @ 2.8765

Stop Loss @ 2.5646

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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