#FTTUSDT — Descending Triangle: Ready for Takeoff or Breakdow

Apr 25

#FTT

The price is moving within a descending channel on the hourly timeframe. It has reached the lower boundary and is trending towards a bounce. A retest of this boundary is expected.

The Relative Strength Index (RSI) indicates a downward trend, and this trend is likely to continue due to the overbought condition.

A key support zone has been identified in green at 0.2713. The price has bounced off this zone several times, making it a strong support level.

The price is trending towards the 100-period moving average, which we are approaching. This trend supports an upward move.

Entry Price: 0.2900
First Target: 0.2948
Second Target: 0.3000
Third Target: 0.3070

You can close at the second target or wait for the third target to be reached. The choice is yours.
Stop Loss: At the resistance zone in green.

Remember this simple rule: Money Management.

Any questions? Please leave a comment.

Thank you.

Apr 27

Trade closed: target reached

#FTT
First Target: 0.2948 Reached
Second Target: 0.3000 Reached
Third Target: 0.3070 Reached