💹FTM: on the way to the second target and...long traders trap?!

27 thg 6, 2022

Fantom is following my scenario. It`s almost not consolidate under the trendline and directly break it up. It`s a good sign of the bull strength.

After reaching the $0.30 key level and our first target price made local double top and break the trendline down. It would be too obvious to break this trend line with a strong dump, since after such a serious dump 2-3 weeks ago, not enough traders have accumulated for a trap.

There were a lot of buyers at the bottom and volume indicator confirmed it. During FTM growth we haven`t seen the huge volumes that confirms us the sellers presure.

So for the huge pullback and to entry the short we should wait for the local pump and the false breakout (liquidity collection) which can happen when the price reach our second target. This is the $0.34-0.38 value area. I don`t think that the pullback will be the deep but we to make 1:3, 1:5 RR we don`t need it.

✅This is the one out of severals scenarious and most possible of them so stay tuned to get more updates.

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P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.