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BTC/USDT (Futures) Potential Upward Movement

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

Key Resistance Levels: 53180.53, 55966.11, 58853.19.

Key Support Levels: 50344.26, 48416.53, 46283.97.

Daily Time Frame:

The price on the higher time frame managed to break the bearish channel to the upside after leaving a huge wick to the downside and posting a Wyckoff accumulation phase. In addition, the market succeeded to break the 50344 USDT mark to the upside after posting a correction near this zone. We expect further movement to the upside in the coming hours.

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

1-Hr Time Frame:

On the lower time frame, the price succeeded to break the bullish flag to the upside with the help of the buyers near the bespoke support level (Highlighted Zone). A lower correction could be seen to the highlighted area before a new bullish impulsive wave toward the target profits.

Buy Limit Order @ 50678.51

TP 1 @ 52929.89

TP 2 @ 53180.53

Stop Loss @ 49557.61

Trade Safely 🙂

In many cases we manually use market orders instead of pending orders to trade the trading ideas we send you. This is higher risk, and you can decide if it suits your trading style.

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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