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DEFI/USDTPERP Potential Upward Movement

DEFI/USDTPERP Long-Term Trend: Bullish

Key Resistance Levels: 14201.6, 15784.7, 16643.2.

Key Support Levels: 11650.3, 10147.9, 10000.0.

Daily Chart:

The price on the higher time frame posted a higher lows with a form of a double bottom formation which led to a move higher and above the 11650.30 USDT mark. Further movement to the upside is expected in the same direction of the main trend.

DEFI/USDTPERP Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the price succeeded to break the Wyckoff accumulation phase to the upside where a series of bullish bars has been posted. A lower correction could be seen to the highlighted zone before a new move upward toward the target profit.

Signal Idea:

Buy Limit Order @ 12577.5

TP 1 @ 13828.2

TP 2 @ 14201.6

Stop Loss @ 12045.6

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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