FTM/USDT | Pivotal level | Bearish Divergence | 200 EMA
Todays analysis – FTM/USDT – consolidating at a pivotal level as trend support and structural resistance converge.
Points to consider:
- Key level (apex)
- Swing high failure
- Immediate target (structural support)
- 200 EMA Support Confluence
- Low volume
- RSI bearish divergence
Price is coiling into its apex as trend support and structural resistance converge, break in either direction is probable.
Price failing to break structural resistance; a local swing high failure will for a bearish bias in the market with the immediate downside target bring structural support
The 200 EMA also coincides with structural support, putting emphasis on the key level.
Volume is also declining and remaining below average; indication of an influx being imminent, likely to coincide with bearish price action.
The RSI has a valid bearish divergence, another sign of weakness in the immediate market.
Overall, in my opinion, a long trade is validated with a successful S/R flip retest of the 200 EMA with technical target of structural resistance.
If you’ve read this far - thank you for following my work!
And as always,
Focus on you, and the money will too!
Points to consider:
- Key level (apex)
- Swing high failure
- Immediate target (structural support)
- 200 EMA Support Confluence
- Low volume
- RSI bearish divergence
Price is coiling into its apex as trend support and structural resistance converge, break in either direction is probable.
Price failing to break structural resistance; a local swing high failure will for a bearish bias in the market with the immediate downside target bring structural support
The 200 EMA also coincides with structural support, putting emphasis on the key level.
Volume is also declining and remaining below average; indication of an influx being imminent, likely to coincide with bearish price action.
The RSI has a valid bearish divergence, another sign of weakness in the immediate market.
Overall, in my opinion, a long trade is validated with a successful S/R flip retest of the 200 EMA with technical target of structural resistance.
If you’ve read this far - thank you for following my work!
And as always,
Focus on you, and the money will too!