FTT has been trading inside this channel for over a month now. With the most recent BTC sell-off, FTT fell towards the lower support of the channel. This trade is based on the idea that the channel will hold in the near future.
Obviously, this trade's success is highly correlated with Bitcoin's short term price action. In case BTC will fall further, FTT will fall...
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Because the price has reached the bottom of the channel, I expect to see a good growth. According to the intersection of line DE and the top of the channel, this growth will continue up to the price of 68.5 tether. Notice it's just a prediction and It's up to you to have a good risk management as well as good strategy!
If you agree with me on this...
It has a lot of potential since it is the currency of the ftx exchange, it has followed the same trend as BNB and the growth from January to date has been impressive, I recommend buying this token immediately and reviewing its performance every week and every month!
FTT Continues to show strength with that 55 area holding as of now. 58 area should be broken ASAP for the near term strength to continue. Agg. entry anywhere above 56.50 area. Invalidation is below 55 & 1st targets at 70 & 86
Risk warning, disclaimer: the above is a personal market judgment based on published information and historical chart data on Tradingview, all analysis is only subjective. Hope investors consider, I am not responsible for your investment decision. Thank you.
FTX has found support at this bottom trendline of this ascending channel, and the horizontal support seems to be holding, waiting for confirmations on the 4hr timeframe before possibly playing a nice long from here.