Hello Traders!
This analysis for FTM was done at the request of one of our members. I was actually quite Bullish on this crypto last year long before the leader left and chaos ensued.
So where is price headed?
- To be brutally honest... This is one of the worst charts that I've seen in a while. I can't find a single Bullish indicator anywhere on the chart. I actually think FTM could be trading around 0.20 or less by the end of the year and I'm serious about this.
- In the short term I would like to say I think it could bounce considering it's at a support level and has come into this level quick (indicator of potential bounce) but this crypto has underperformed so much that even when a bounce setup occurs it blast through the level and continues lower.
***I really don't have much to say regarding this crypto, if it was me I wouldn't put a single penny into FTM. It's done nothing but trade down with the exception of a couple bounces but aside from that this has got to be one of the worst performing coins in Cryptoland.
- For anyone holding FTM, I'm not trying to be abrasive, I'm just giving my honest opinion.
***I suppose you could short FTM but I would caution against shorting period unless you are experienced.
***Let me finish by saying this...
- If you are HODL'er of FTM, I would think very carefully about your plans for this crypto. The probabilities of you continuing to lose money with FTM are VERY high especially considering BTC is projected to hit $20K in the coming months.
- Personally I learned the hard way and had liquidated my account on several occasions when I first started trading. I left my money in cryptos like ADA, holding on because my emotions told me to. There was no logical reason to it, the charts said otherwise but I was attached to it and couldn't bare taking that size of a hit. In the end I lost all the money invested and learned the lesson of what happens when you allow your emotions to dictate your trading decisions.
- Lastly, I don't know if anyone reading is in this particular situation, but either way it's a good lesson to be learned. Charts like FTM will undue months if not years of work saving money to invest.
That's all, thank you everyone and best of luck trading!
This analysis for FTM was done at the request of one of our members. I was actually quite Bullish on this crypto last year long before the leader left and chaos ensued.
So where is price headed?
- To be brutally honest... This is one of the worst charts that I've seen in a while. I can't find a single Bullish indicator anywhere on the chart. I actually think FTM could be trading around 0.20 or less by the end of the year and I'm serious about this.
- In the short term I would like to say I think it could bounce considering it's at a support level and has come into this level quick (indicator of potential bounce) but this crypto has underperformed so much that even when a bounce setup occurs it blast through the level and continues lower.
***I really don't have much to say regarding this crypto, if it was me I wouldn't put a single penny into FTM. It's done nothing but trade down with the exception of a couple bounces but aside from that this has got to be one of the worst performing coins in Cryptoland.
- For anyone holding FTM, I'm not trying to be abrasive, I'm just giving my honest opinion.
***I suppose you could short FTM but I would caution against shorting period unless you are experienced.
***Let me finish by saying this...
- If you are HODL'er of FTM, I would think very carefully about your plans for this crypto. The probabilities of you continuing to lose money with FTM are VERY high especially considering BTC is projected to hit $20K in the coming months.
- Personally I learned the hard way and had liquidated my account on several occasions when I first started trading. I left my money in cryptos like ADA, holding on because my emotions told me to. There was no logical reason to it, the charts said otherwise but I was attached to it and couldn't bare taking that size of a hit. In the end I lost all the money invested and learned the lesson of what happens when you allow your emotions to dictate your trading decisions.
- Lastly, I don't know if anyone reading is in this particular situation, but either way it's a good lesson to be learned. Charts like FTM will undue months if not years of work saving money to invest.
That's all, thank you everyone and best of luck trading!