16 thg 1, 2022 FTX has arrived at a critical resistance level - $46. Failure to push higher will likely lead to a pullback. However, as presented on the chart, this last pump may have been wave 4 out of a 5 wave structure and we may get more pain before gain (see wave E). As such, DO NOT FOMO HERE. This is where you take profit if you entered around C level. Even if the 3-day indicators are bullish, I would be careful here if you are considering a long. The 12h timeframe is looking a bit overbought. For FTX to push higher, we need BTC and the whole market to pump more. For now, secure those juicy profits and only consider a long if FTX breaks the current resistance and makes it support. Bias is neutral on this set-up. It can go either way, but I tend to think we fall at least to $44 or so. Like and follow if you liked my idea!
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