Fantom (FTM)

Fantom needs no introduction, a popular project which maintained its usefulness as well as high trading volume. After FTM price skyrocketed, a corrective wave started which seems ended at 0.382 Fibonacci retracement. The 0.382 area is a strong and important one since it was able to supported price several times; if this area breaks downward, for any reasons, the grey line below can come to rescue. Anyway, it seems an upward impulse wave has started and currently price consolidating in a triangle shaped pattern. If price breaks this consolidation area upward it means continuation for the impulse wave. Let's see what happens.

Note

There is a pattern that does not happen very often, but when it does, it can lead to rapid ascent or pump. It's a double triangle pattern and it seems it might be happening in FTM, so keep an eye on it.

Note

So for the third times FTM bounced of from the horizontal support line. Keep an eye on FTM. Let's see what happens.

Note

So, FTM broke the second downtrend line, went up pretty well, and now approaching the major horizontal area. Let's see what happens.

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So, FTM reached the major horizontal area, but couldn't break it. Then the correction started, and FTM came down to gather momentum. Let's see when FTM breaks the minor downtrend line.

Note

So, the correction ended when FTM broke the descending inverted wedge. Let's see if FTM can break the major horizontal area or not.

Trade active

So, FTM went up, made a minor inverted wedge correction pattern, broke this, too, and reached the major horizontal area again. If FTM breaks this area upward, reaching ATH is possible. Let's see what happens.

SaeedSalehinia

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SaeedSalehinia