Hello all. Here is a simple FTX Token analysis. (Can't buy on coinbase yet!)
Looking at the price on daily chart, we see that FTX is trading in the fib golden pocket at $44-$46. This is indicated on the left side Fibonacci retracement.
We can also see that FTX found support on the ascending line of support which is the bottom yellow line.
The 170% trade is possible if we buy FTX at this current price and sell it at $128 which is the 161% Fibonacci retracement level (indicated on the right side).
It is possible that we see little more pull back around $40 which will correspond with our descending line of support.
Thanks for reading, and stay tuned. Happy Thanksgiving.