PEOPLE/USDT (Futures) Long-Term Trend: Bearish
Key Resistance Levels: 0.08739, 0.10513, 0.12033.
Key Support Levels: 0.07386, 0.06415, 0.05545.
1-Hr Time Frame:
The price on the higher time frame failed to break the strong resistance level around the 0.0880 USDT mark where it left a fake breakout. The market succeeded to break the bullish trendline to the downside which is an another indication that the sellers are taking control of the market.
PEOPLE/USDT (Futures) Medium-Term Trend: Bearish
15-Mins Time Frame:
On the lower time frame, the buyers became sellers once they fell into the trap above the resistance zone. This led to a sell pressure where the market now is in a new trend to the downside. A correction could be seen to the resistance zone before a new bearish impulsive wave toward the target profits.
Sell Market Order @ 0.08493
TP 1 @ 0.07386
TP 2 @ 0.06415
Stop Loss @ 0.09039
Trade Safely 🙂