$FTM/USDT 90m (#BinanceFutures)Falling broadening wedge breakout

Fantom is pulling back to 50MA support and looks good for a bounce then a short-term recovery!

Current Price= 0.7531
Buy Entry= 0.7432 - 0.7050
Take Profit= 0.8346 | 0.9233 | 1.0164
Stop Loss= 0.6354

Risk/Reward= 1:1.25 | 1:2.25 | 1:3.3
Expected Profit= +15.26% | +27.51% | +40.37%
Possible Loss= -12.25%

Fib. Retracement= 0.559 | 0.786 | 1
Margin Leverage= 1x
Estimated Gain-time= 1 week

Tags: #FTM #FTMUSDT #Scaling #PoS #Staking #DAG #SC #EVM #Enterprise #DApp #DeFi #BSC #BC #SolEco

Website: fantom.foundation/

Contracts:
#Mainnet
#ERC20 0x4e15361fd6b4bb609fa63c81a2be19d873717870
#BEP20 0xad29abb318791d579433d831ed122afeaf29dcfe
#BEP2 FTM-A64
#SPL 8gC27rQF4NEDYfyf5aS8ZmQJUum5gufowKGYRRba4ENN
#CELO 0x218c3c3d49d0e7b37aff0d8bb079de36ae61a4c0

Trade active:

1st entry filled

Fantom bounced back on 50MA and seems to be heading towards first target!

Trade closed: target reached:

TP1 was reached with +12.56% (1x) and +1.25R

Fantom pushed higher with up to +17.69% but was not able to keep up and retraced to demand zone!
RSI entering oversold again so it could bounce back, SL adjusted to lowest entry (0.7050) in any case.

Trade closed manually:

Remaining position was closed with -2.64% (1x) and -0.22R

Fantom did not bounce back a 2nd time and ended losing critical support leading to another downtrend.
Seems like we longed it too early, let's wait for new reversal signs to try again!