🔥 FTM Fell Through Support: Bearish Break Out

9 mars 2023

In my last FTM post I discussed the falling wedge pattern drawn on the chart. My expectation was that FTM would continue to trade within this pattern. A couple days later we can safely say that the market conditions have deteriorated significantly after Powell's speech.

FTM has broken through the wedge's support and is currently in the process of retesting the support as resistance, a classically bearish happening.

In my view, it's highly likely that FTM will keep on falling. I'm looking at the two blue lines as initial targets.

10 mars 2023

Note

Target 1 hit🔥

10 mars 2023

Note

Target 2 hit