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YFI/USDTPERP Potential Upward Movement

YFI/USDTPERP Long-Term Trend: Bullish

Key Resistance Levels: 33993, 34579, 35000

Key Support Levels: 31565, 30652, 30500

Daily Chart:

The price on the higher time frame failed to break a strong support around the 31565 USDT mark and posted a double bottom formation which reversed the price to the upside. The price has left a series of higher highs and lows showing that we are in a clear uptrend.

YFI/USDTPERP Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the price is traded inside a bullish flag formation where a bullish head and shoulders is being formed around the strong support and the 61.80 % Fibonacci retracement level. This could lead to a move upward in the same direction of the main trend.

Signal Idea:

Buy Limit Order @ 32662

TP 1 @ 33952

TP 2 @ 33993

Stop Loss @ 32158

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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