A couple of days ago, I made an analysis on FTM. Here I argued that the reversal we saw was most likely the start of a shift in direction, after FTM saw bearish price action for almost a month.
In the end, FTM had to re-test the earlier mentioned support area around $1.90. Since earlier today, FTM saw a massive bullish move, making it one of the top gainers of the day and taking out the first target at $2.37.
I'm convinced that the bearish phase is over now. Assuming BTC will stay relatively calm, we can see further bullish price action from FTM. Targets at $2.5 and $2.7, be aware that we might re-test the last local top around $2.27.
Happy trading!
In the end, FTM had to re-test the earlier mentioned support area around $1.90. Since earlier today, FTM saw a massive bullish move, making it one of the top gainers of the day and taking out the first target at $2.37.
I'm convinced that the bearish phase is over now. Assuming BTC will stay relatively calm, we can see further bullish price action from FTM. Targets at $2.5 and $2.7, be aware that we might re-test the last local top around $2.27.
Happy trading!
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