FTM broke out and currently it is retesting. The blue rectangular line will be a good buy zone.
It is trending above the 100 day MA and you can see what happened last time when it crossed above the 100 day MA.
My entry zone: 302 - 325
💎Technical Analysis Summary💎
-Fantom is unable to get above the Swing High at 5500 sat
-We can see two rejections at 4500 sat
-This is a sign of weakness in terms of price action
-Currently, it is still holding local support
-But if the channel is broken downward
-Please reduce position size or place a proper stop...
-Fantom is on a 4H short term downtrend
-The price is likely to come down and retest the previous support area
-The zone needs to be watching is somewhere around 210 sat level
-This was a previous resistance turned support and 0.5 Fib support
-We can also see the 100MA dynamic support in this zone
-It is highly anticipated of a bounce reaction within this...
-The downward trendline is now broken but the local resistance is still valid
-If you are an aggressive trader, you can enter the current market price
-While conservative Trader is waiting for the break of local resistance at 127 sat
-Entering Buy position on breakout confirmation or retest at 127 sat
-Ideal stop loss area is below the Double bottom...
-New key support is found at 107 sat range
-Currently, FTM is testing the downward trendline resistance
-I recommend to only to Buy the break/retest of trendline
-Because this will increase your short term Bullish bias will continue
-The upside potentials are up to 164 sat or higher
-Stoploss is below 106 area
I have been trading FTM of recent, only once so far due to the structure. It was an opportunity for a small trade.
When I did my review today at the bigger structure, it has passed one big hurdle and is likely to keep going up.
However it has many layers of resistances.
< Note: WR, WS, MR, MS are what I mark for weekly resistance and support as well as...
Please support this idea by pressing the like button
Buy Between : 0.00000049 - 0.00000041
Target 1 : 0.00000070
Target 2 : 0.00000087
Target 3 : 0.00000103
Target 4 : 0.00000115
Stop loss : 0.00000037
Risk/Reward : 20%/180%
Do not hurry to buy, the price may go down to good places
This is a riskier trade, as FTM has been in a clear descending pattern since it was listed on Binance.
However, there are some signs that a possible short term reversal may be soon approaching.
We have the first sign of a bullish divergence on the daily and all smaller time frames.
Volume accumulation is also clearly increasing in the last month as the...