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KSM/USDT (Futures) Potential Upward Movement

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

Key Resistance Levels: 248.10, 260.79, 265.00.

Key Support Levels: 246.75, 240.86, 235.63.

1-Hr Frame:

The price on the higher time frame succeeded to break the bearish trendline to the upside after a double bottom formation under the strong support level. This gave the power to the buyers to reverse the market and push it all the way up.

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

5-Mins Time Frame:

On the lower time frame, the market succeeded to break the descending trendline to the upside after finding buyers below the 246 USDT mark leaving behind a fake breakout. This trapped the bears and now their sell positions are converted to a buy one which will lead to a move to the upside all the way up toward the target profits.

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Buy Market Order @ 248.10

TP 1 @ 255.71

TP 2 @ 260.79

Stop Loss @ 244.90

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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