ninjacookies
Long

Fantom FTM FTM/BTC Possible short/medium term bottom reversal?

BINANCE:FTMBTC   Fantom / Bitcoin
This is a riskier trade, as FTM has been in a clear descending pattern since it was listed on Binance.

However, there are some signs that a possible short term reversal may be soon approaching.

We have the first sign of a bullish divergence on the daily and all smaller time frames.

Volume accumulation is also clearly increasing in the last month as the price has fallen, typically indicating something may be brewing.

We're currently at the bottom range of a descending channel . The price must hold in this region or this idea is invalidated.

Possible short term targets are indicated by the yellow lines.


If FTM is able to close above both these targets, then that would indicate a new higher low has been formed and stronger chance of a much larger bull run.

Again, this is a high risk trade so manage appropriately and set a tight SL.



This is not financial advice.
Comment: Perfect follow thru with volume yesterday. Right on time.

Need to close above 88 satoshis to confirm further upside.
Comment: Still looking good, even on the 3 day.



Stoch pointing back up, strong bullish divergence. Volume definitely picking up. Seems to be a good amount of people loading up for a potential run. Hoping for a big one.
Comment: Thwarted by bitcoin.....

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out