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.
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.
Buy Market Order @ 248.10
TP 1 @ 255.71
TP 2 @ 260.79
Stop Loss @ 244.90
Trade Safely 🙂