#FTTUSDT — Descending Triangle: Ready for Takeoff or Breakdow

Apr 27

#FTT

The price is moving within a descending channel on the 1-hour timeframe and has reached the lower boundary. It is now poised for a bounce and is expected to retest this boundary.

The Relative Strength Index (RSI) indicates a downward trend, which is likely to continue given the overbought conditions.

There is a key support zone (in green) at 0.2720. 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: 0.2884
First Target: 0.2939

Second Target: 0.2994
Third Target: 0.3060

You can stop at the first and second targets and close the price, or continue towards the third target. Stop Loss: At the resistance zone (in green).

Remember this simple rule: Money Management.

Any questions? Please leave a comment.

Thank you.

May 2

Trade active

#FTT
First Target: 0.2939 Reached
Second Target: 0.2994 Reached

May 6

Trade closed: target reached

#FTT
First Target: 0.2939 Reached
Second Target: 0.2994 Reached
Third Target: 0.3060 Reached