Around two weeks ago I made an analysis on FTM and the bearish price action that I was expecting.
The above trade was a great success, congratulations if you took the trade.
As of today, FTM has seemingly found support at the long-term bullish trend line which has been supporting bullish price action since the COVID crash.
In case BTC will stabilize over the coming days, we can expect FTM to show us further bullish strength, potentially making a shot at $0.8 to $1. However, the sky is not clear yet for this coin. In case we see more downside for BTC, I'd expect FTM to follow.
My bear-market bottom target would be at $0.16, which is the low of 2021's summer bear and also a 95% drop from the ATH. This would be my ideal area of entry.