Fantom continues its bullish blast bouncing hard off of the 4HR 200EMA ribbon and then the 30EMA. We're now closing in on Resistance Zone #1 and need to know what the next trade move will be.
How do we trade this? 🤔
We're too close to the resistance zone to long and we don't yet have any indication that the price will reverse. Best to wait on the sidelines...
To see such a bearish scenario, we should expect bitcoin to go down to at least 19K. and that might lead to a drop in all altcoins.
but make sure that you don't open short positions with high volume or high leverage. its a high risk/high reward trade.
Market just finished forming M pattern, we are expecting to see a retrace to a neckline and drop to 0.335 zone
Entry: 1.43
Invalidation: 1.748
Target: 0.33
