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DOT/USDT (Futures) Potential Upward Movement

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

Key Resistance Levels: 32.766, 38.046, 39.000.

Key Support Levels: 28.916, 26.262, 24.831.

Daily Time Frame:

The price on the higher time frame managed to break the bearish channel to the upside after posting a throw over below this pattern. The market rebounded and moved higher where it found buyers around the 61.80% Fibonacci retracement level. further movement to the upside is expected soon.

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

1-Hr Time Frame:

On the lower time frame, the market managed to break the bearish trendline to the upside after posting a bullish head and shoulders. The price as well corrected to the highlighted zone which shows that a new bullish impulsive wave could be seen in the coming hours.

Buy Market Order @ 30.006

TP 1 @ 31.283

TP 2 @ 32.766

Stop Loss @ 29.466

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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