SRM/USDTPERP Long-Term Trend: Bullish
Key Resistance Levels: 3.843, 4.623, 4.700
Key Support Levels: 3.043, 2.610, 2.500
The price on the higher time frame failed to break a strong support area around the 2.610 USDT mark, which led to a reversal and a formation of a double bottom near this zone. In addition we noticed that the market succeeded to break the trendline resistance which is another reason for a rally to the upside.
SRM/USDTPERP Medium-Term Trend: Bullish
On the lower time frame, the price managed to break the bullish flag to the upside. It posted an engulfing bullish pattern around the highlighted zone. A lower correction could be seen to this area before a new impulsive wave to the target profit.
Buy Limit Order @ 3.054
TP 1 @ 3.832
TP 2 @ 4.623
Stop Loss @ 2.795
Trade Safely 🙂