FTM Fantom: 1D Chart Review
Updated
Hello friends, today you can review the technical analysis idea on a 1D linear scale chart for Fantom (FTMUSD).
The chart is self-explanatory. The price is at the top end of the triangle pattern about to reach the resistance line. It is above the 20,50, 200 MA (simple moving average). It also is above the Ichimoku Cloud so if price immediately falls, it may get supported by the top of the cloud. Volume is consistent. RSI recently had a bullish breakout and inside another pattern headed up.
There are two paths shown with a bullish and bearish scenarios. Both have support and resistance trend lines which are important. The timing of these two paths may be off, but the overall trend up or down may occur as shown.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
The chart is self-explanatory. The price is at the top end of the triangle pattern about to reach the resistance line. It is above the 20,50, 200 MA (simple moving average). It also is above the Ichimoku Cloud so if price immediately falls, it may get supported by the top of the cloud. Volume is consistent. RSI recently had a bullish breakout and inside another pattern headed up.
There are two paths shown with a bullish and bearish scenarios. Both have support and resistance trend lines which are important. The timing of these two paths may be off, but the overall trend up or down may occur as shown.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
Note
FTM chart: exactly at resistance!
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