Around a week ago I made an analysis on FTM. Here I argued that there was potentially more bearishness for FTM in the short term.
The reversal zone I indicated did indeed cause a strong reversal. I expected the price to go deeper in the zone, but it appears that investors were hopping in at $1.15.
On the chart I've drawn a triangle. The price is very close to break out from here. Assuming BTC won't dump any further (ideally reverse) I'm expecting the price to reach $1.5 in the short-term. On the other hand, it might be the case that FTM wants to re-test the lower support of the triangle, keep an eye out.
If we're gonna have a green week next week, expect $1.65 very soon.
Happy trading!
The reversal zone I indicated did indeed cause a strong reversal. I expected the price to go deeper in the zone, but it appears that investors were hopping in at $1.15.
On the chart I've drawn a triangle. The price is very close to break out from here. Assuming BTC won't dump any further (ideally reverse) I'm expecting the price to reach $1.5 in the short-term. On the other hand, it might be the case that FTM wants to re-test the lower support of the triangle, keep an eye out.
If we're gonna have a green week next week, expect $1.65 very soon.
Happy trading!
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