FTM is arguably the largest winner since the huge bullish reversal in late July. However, with Bitcoin losing strength, FTM lost over 30% of the gains, losing almost all gains of last week.
In my view, there's currently not a major support in sight. So, unless BTC reverses substantially in the coming hours, FTM will likely fall further.
My main area of reversal is the zone between $0.96 (previous ATH) and $1.15 (local top & re-tested support). Main target for the potential reversal is $1.50.
Bottom at 1.25$ the way it has bounced on it like a tennis ball dropped from 1m height can't be the reversal after such a blow-off ATH and the run we've had.
Easy money to be made here buying on the area you pointed out.
Thanks for sharing!
kingdoz
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I was such an idiot, could have sold at 1.9 (fomod in at 1.6 with large part of my crypto portfolio). Do I sell at a major loss now (in case it goes back down under a dollar) and move on as this coin has now had its day and up cycle ended and other coins more likely to bounce or is there still a lot of interest in FTM?
j0nny6
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@kingdoz, @kingdoz, Make your FTM work for you. SpiritSwap, SpookySwap, Tomb.finance, all great DeX's and offer some excellent returns/APY. Read up and watch some videos, but you have to bridge over your FTM to its Mainnet (you can use the SpookySwap bridge if you bought your FTM from KuCoin/ERC-20, and Binance offers to withdraw direct to the FTM Opera Mainnet). Once you have your FTM on MetaMask, you can connect to the Dex of your choice, swap into some other coins like Boo or Spirit, and then stake or provide liquidity. The APYs on some of these pools are really nice. If you are going to wait until FTM goes back up to get some more gains, it may be something to look into. Note when you finally want to sell, you will have will have to transfer back from Opera Mainnet to ERC-20. There are fees but that is DeFi. FTM is just awesome, probably my favorite part is how little fees are compared to ETH.
kingdoz
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@j0nny6, amazing. I’m not selling now that’s for sure. If you had to choose one coin to buy and hold (today at these lows) would you go buy and stake into boo or spirit (2-3 month hold)? Ps I don’t know how to provide liquidity, I can handle volatility but scared of losing everything and worries about coins going bust or rugpools.
KlejdiCuni
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Great work! I completely agree with you.
ForexTrendline
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a double bottom right there would shoot price to the upside, I like the idea!
Laddered longs waiting there.
Bottom at 1.25$ the way it has bounced on it like a tennis ball dropped from 1m height can't be the reversal after such a blow-off ATH and the run we've had.
Easy money to be made here buying on the area you pointed out.
Thanks for sharing!