Idea on the secondary trend of the FTT token of "scam exchange" FTX.
After the FTX scam horizontal channel started to form. There were 2 accumulations zones which lasted each 30 days ~(1 month). After that the pump followed.
Now the price is between this 2 accumulation zones(buffer zone) for 3 months already.
After first pump local dip formed, after which another pump(2nd wave) followed. This wave formed local cycle at the duration of 32 days. Shown on the chart.
Above the chart each period is described. Below - what happened at each point of a new cycle.
Lately, after each new cycle(beginning since Aug 18) - we've seen price increase from 30 to 40%.
This 3 local pump waves formed an ascending triangle(bullish formation). Next cycle is on Nov. 22. 15 November is the date of listening for FTX case.
So, what do you think more likely - rise to somewhere about 2.2022$ zone(89.6% from current)?
Or the dump to the support of the "outer" channel to about 0.8088$ zone(-30.81%)?
By the way, since the beginning of the last local cycle - we've seen a significant increase in volume(Bitget exchange). Local resistance of the triangle is 1.22-1.33$$ zone.
After the FTX scam horizontal channel started to form. There were 2 accumulations zones which lasted each 30 days ~(1 month). After that the pump followed.
Now the price is between this 2 accumulation zones(buffer zone) for 3 months already.
After first pump local dip formed, after which another pump(2nd wave) followed. This wave formed local cycle at the duration of 32 days. Shown on the chart.
Above the chart each period is described. Below - what happened at each point of a new cycle.
Lately, after each new cycle(beginning since Aug 18) - we've seen price increase from 30 to 40%.
This 3 local pump waves formed an ascending triangle(bullish formation). Next cycle is on Nov. 22. 15 November is the date of listening for FTX case.
So, what do you think more likely - rise to somewhere about 2.2022$ zone(89.6% from current)?
Or the dump to the support of the "outer" channel to about 0.8088$ zone(-30.81%)?
By the way, since the beginning of the last local cycle - we've seen a significant increase in volume(Bitget exchange). Local resistance of the triangle is 1.22-1.33$$ zone.
Comment:
Reached 5.55$ zone. Also reached shown taget zone at 2.2022$. All according to cycles. Is it rational to stay in long position after 300%+ pump? What do you think.
Comment:
#FTT/USDT 1D. Local downtrend channel is forming. Price is below the resistance zone.
Buy-outs. Hence the interest for the coin is still in. Main date zone is 16th DEC. About that date might be some interesting price movements.
Potential accumulation in 2.2-2.8$ zone.
Buy-outs. Hence the interest for the coin is still in. Main date zone is 16th DEC. About that date might be some interesting price movements.
Potential accumulation in 2.2-2.8$ zone.