DOT/USDTPERP Long-Term Trend: Bearish
Key Resistance Levels: 11.77, 10.56, 10.00
Key Support Levels: 12.96, 13.60, 14.66
The price on the higher time frame succeeded to break the bearish pennant formation to the downside which shows that the sellers are in clear control. The market managed to break the strong daily support around the 12.96 where we expect further movement to the downside after this move.
DOT/USDTPERP Medium-Term Trend: Bearish
On the lower time frame, the pair succeeded to break the bearish pennant formation as well to the downside after finding bears around the 61.80 % Fibonacci retracement. We expect a higher correction to the highlighted zone before a new selloff toward the target profit.
Sell Limit Order @ 12.707
TP 1 @ 11.799
TP 2 @ 10.568
Stop Loss @ 13.007
Trade Safely 🙂