Hello traders 🐺 .
In this idea I want to talk about FTM possible trades and also I want to update you my friends about the BTC.D :
Let's start with the daily chart :
In the daily chart we can see that the FTM is inside a descending channel and as you know inside of the channel we could trade based on the channel trend lines as a support and resistance , also in the current situation we have yellow downward trend line , which it's seems to be broken and now price is trying to retest it as a new support , but how we can trade based on these facts :
In the 4H chart we can see that the price is break above the yellow trend line and also price is break above the 4H resistance structure and now it's seems that price trying to hold above it ;
In my opinion I think that the there is chance for the FTM to at least testing the 200EMA around the 0.382 Fibonacci level or maybe even higher than that , to testing the descending channel upper trend line .
if you want to long this move , make sure to use proper stop loss because that the market is already nervous .
Let's talk about the BTC.D situation :
As you can see in the chart above , BTC.D is above daily support box ( blue box ) which is also the W pattern neck line and , in my opinion there is chance for BTC.D to retest the 200MA around the 0.236 Fibonacci level so I think there is possibility to see a bear market for the ALTCOINS and this could confirm the bear market I think .
In this idea I want to talk about FTM possible trades and also I want to update you my friends about the BTC.D :
Let's start with the daily chart :
In the daily chart we can see that the FTM is inside a descending channel and as you know inside of the channel we could trade based on the channel trend lines as a support and resistance , also in the current situation we have yellow downward trend line , which it's seems to be broken and now price is trying to retest it as a new support , but how we can trade based on these facts :
In the 4H chart we can see that the price is break above the yellow trend line and also price is break above the 4H resistance structure and now it's seems that price trying to hold above it ;
In my opinion I think that the there is chance for the FTM to at least testing the 200EMA around the 0.382 Fibonacci level or maybe even higher than that , to testing the descending channel upper trend line .
if you want to long this move , make sure to use proper stop loss because that the market is already nervous .
Let's talk about the BTC.D situation :
As you can see in the chart above , BTC.D is above daily support box ( blue box ) which is also the W pattern neck line and , in my opinion there is chance for BTC.D to retest the 200MA around the 0.236 Fibonacci level so I think there is possibility to see a bear market for the ALTCOINS and this could confirm the bear market I think .
