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CRV/USDTPERP Potential Downward Movement

CRV/USDTPERP Long-Term Trend: Bearish

Key Resistance Levels: 1.617, 2.031, 2.100

Key Support Levels: 1.274, 1.103, 1.090

Daily Chart:

The price on the higher time frame, was in a clear downtrend where it posted a correction count below the strong daily resistance around the 1.617 USDT mark. In addition, we noticed that the price left a bar with a huge wick to the upside near this zone which shows that the sellers are about to take control of the market.

CRV/USDTPERP Medium-Term Trend: Bearish

4-Hour Chart:

On the lower time frame, the price succeeded to break the bearish flag formation to the downside where it is posting an inverse head and shoulders. This could lead to a reversal and a move to the downside in the same direction of the main trend.

Signal Idea:

Sell Limit Order @ 1.605

TP 1 @ 1.279

TP 2 @ 1.103

Stop Loss @ 1.720

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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