If fantom succeeds in confirming the breakout of this rising wedge pattern, we will see a continuation in price.
How does this confirmation work? After retesting the upper band of this rising wedge and finding support, a new ATH would confirm this continuation.
However if fantom does not succeed, and drops back inside of the rising wedge, it is more likely this...
For anyone new to the crypto space, drops like these are made to shake you off, and you should never fear them.
In this chart you can see that 2017's first major retracement (green fractals) vs 2020's first retracement and current setup look oddly similar.
Watch what happens after all the weak hands sold there coins to diamond hands.
Just hodl and nobody gets hurt.
TRX isnt the most favoreable coin out there, but it stil has potential.
Next week we are making a cross on the MACD indicator after a long consolidation period.
What could this potentially mean? A BREAKOUT out of our multi year bear period, with a huge target as destination.
Especially with the bitcoin dominance still failing, a full on '2017 like' alt season...
In this post I compared BTC with its first major retracement during the bull run (green fractals) and its ATH in januari of 2018 (red fractals).
Both look similar to whats happening with BTC now.
This post is just for entertainment only.
We just hit the bottom and we are ready for another push. We are currently breaking out of a descending triangle, which is very bullish.
Also: On the FTMUSD chart we are breaking out of a bullish pennant pattern.
If FTM closes a 4H candle / daily above the resistance line, our next target would be between 600 and 800 sats.