Long
FANTOM Weekly Outlook
Ok let's not loose time and go directly into it. Here is what i see:
1. In the last 2 years FTM bounced 4 times from the RSI support line.
2. In the last 2 years FTM moved 3 times into the overbought area on the RSI and stayed there for X-weeks.
3. The time from entering the overbought area until it created a new ATH (before leaving the overbought area again) was between 4-8 weeks / 1-2 month. (Last time it bounced off from the RSI 70 and continued to be overbought).
4. The last 2 times this happend the MACD came out of the red area and turned green.
Current Situation:
1. FTM RSI bounced from the support line in december.
2. FTM RSI is touching the overbought area again and might go into it, this should lead to a multiple weeks push upwards.
3. MACD seems to turn green this week (need to wait until weekly close for confirmation of course).
What does that mean:
Well as always..it either goes up or down ;)
Things to watch:
- Will the MACD close green or red?
- Will we move into the RSI overbought area or get rejected?
- Will be break the ATH?
- And as always..what is BTC doing?...
If the MACD turns green, RSI goes overbought and we break ATH, than the next few weeks can be nice ones.
Looking forward to your comments and discussions.
Tell me if you like that analysis so I know if I should do that more often :D .
And don't get lost while starring at to small timeframes ;) well except you are a daytrader :D
1. In the last 2 years FTM bounced 4 times from the RSI support line.
2. In the last 2 years FTM moved 3 times into the overbought area on the RSI and stayed there for X-weeks.
3. The time from entering the overbought area until it created a new ATH (before leaving the overbought area again) was between 4-8 weeks / 1-2 month. (Last time it bounced off from the RSI 70 and continued to be overbought).
4. The last 2 times this happend the MACD came out of the red area and turned green.
Current Situation:
1. FTM RSI bounced from the support line in december.
2. FTM RSI is touching the overbought area again and might go into it, this should lead to a multiple weeks push upwards.
3. MACD seems to turn green this week (need to wait until weekly close for confirmation of course).
What does that mean:
Well as always..it either goes up or down ;)
Things to watch:
- Will the MACD close green or red?
- Will we move into the RSI overbought area or get rejected?
- Will be break the ATH?
- And as always..what is BTC doing?...
If the MACD turns green, RSI goes overbought and we break ATH, than the next few weeks can be nice ones.
Looking forward to your comments and discussions.
Tell me if you like that analysis so I know if I should do that more often :D .
And don't get lost while starring at to small timeframes ;) well except you are a daytrader :D
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.