RSR/USDT (Futures) Long-Term Trend: Bearish
Key Resistance Levels: 0.026159, 0.026845, 0.028520.
Key Support Levels: 0.023691, 0.023028, 0.023000.
Daily Time Frame:
The price on the higher time frame succeeded to break the parallel channel or the consolidation to the downside where the market posted a retracement to the lower end of this pattern. By posting this correction, the market left a lower higher signaling that the sellers are in control of the market.
RSR/USDT (Futures) Medium-Term Trend: Bearish
1-Hr Time Frame:
On the lower time frame, the price managed to break the bearish flag pattern to the downside where the market found sellers around the area of confluence made of the 50% Fibonacci retracement level, a strong resistance and the lower end of the channel. A higher correction could be seen before the drop toward the target profits.
Sell Limit Order @ 0.026009
TP 1 @ 0.023817
TP 2 @ 0.023028
Stop Loss @ 0.027095
Trade Safely 🙂