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DOT/USDT (Futures) Potential Upward Movement

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

Key Resistance Levels: 51.284, 52.000, 52.500.

Key Support Levels: 48.796, 48.000, 47.500.

1-Hr Chart:

The price on the higher time frame failed to break the strong support level around the 48.855 USDT mark where it left a fake out behind. Buyers emerged after this move and it seems they are taking control of the market which will lead to a move higher toward the next key resistance level.

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

15-Mins Chart:

On the lower time frame, the market succeeded to break the bullish pennant pattern to the upside after finding buyers under the bespoke support. A lower correction could be seen before a new impulsive wave toward the target profits.

Signal Idea:

Buy Limit Order @ 48.627

TP 1 @ 51.284

TP 2 @ 52.000

Stop Loss @ 47.299

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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