FTM Capitulation before potential blastoff
Here is what I think is going on with FTM:
1) I mentioned the key zone of support marked by the green box. I still believe into this green box is at play.
2) The spread on the daily ema ribbon is very large. You can see FTM has already encountered some resistance near this first ema line, in combination with the uptrending zone of resistance marked in red.
3) The ichimoku is pretty far away from us on the daily so there is a decent chance we could have an impulsive move to the upside, but I believe this will happen after re-testing the green box.
4) Not shown, we are currently rejecting out of a 30% red ichimoku cloud on the 4hr timeframe.
5) The BTC pair for FTM has actually touched the uppermost boundary of the green support box that I have drawn. But we could very well see it drop to the lower boundary which would likely put the USDT pair into the green box I have mentioned.
8) Remember, this is not financial advice and always do your own analysis/research before making any decisions on the market.
1) I mentioned the key zone of support marked by the green box. I still believe into this green box is at play.
2) The spread on the daily ema ribbon is very large. You can see FTM has already encountered some resistance near this first ema line, in combination with the uptrending zone of resistance marked in red.
3) The ichimoku is pretty far away from us on the daily so there is a decent chance we could have an impulsive move to the upside, but I believe this will happen after re-testing the green box.
4) Not shown, we are currently rejecting out of a 30% red ichimoku cloud on the 4hr timeframe.
5) The BTC pair for FTM has actually touched the uppermost boundary of the green support box that I have drawn. But we could very well see it drop to the lower boundary which would likely put the USDT pair into the green box I have mentioned.
8) Remember, this is not financial advice and always do your own analysis/research before making any decisions on the market.
