FLM/USDTPERP Long-Term Trend: Bullish
Key Resistance Levels: 0.5761, 0.6448, 0.6500
Key Support Levels: 0.4830, 0.4322, 0.4300
The price on the higher time frame failed to break a strong support around the 0.3002 USDT mark and posted a double bottom formation which reversed the price to the upside. The price has left as series of higher highs and lows showing that we are in a clear uptrend.
FLM/USDTPERP Medium-Term Trend: Bullish
On the lower time frame, the price is traded inside a bullish channel formation, where we expect a lower correction count to the area of confluence. This area is made by a 50% Fibonacci retracement level and the strong support around the 0.4830 USDT level. This move will lead to a reversal and a move to the upside again in the same direction of the main trend.
Buy Limit Order @ 0.5050
TP 1 @ 0.5641
TP 2 @ 0.5761
Stop Loss @ 0.4856
Trade Safely 🙂