Long

FTX Token (FTT)

Updated

It seems FTT is oscillating in a wide sideway channel. Price is currently at the bottom and have to wait to breaks the downtrend line in order to goes up. Let's see what happens.

P.S. Be careful, Since the FTX Token crashed due to the fraud news.

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FTT is on its way up.

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So FTT went up and now price reached the horizontal line on which prices have reacted several times. If FTT wants to reach the upper band of the current channel, first has to pass this line. Also, we can see that RSI has reached the buy-saturated section. Let's see what happens.

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So, FTT couldn't stay above the horizontal line and thus didn't reach the channel's upper line. Currently, FTT is in the corrective phase. The blue horizontal area and below it are good areas to re-buy. FTT will gain momentum in this area to rise upward again. Let's see what happens.

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So, FTT pulled backed right on the blue horizontal area and went up. It seems a corrective wave in shape of triangle is unfolding. Let's see what happens.

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Just an update.

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So, FTT reached below the blue horizontal area and once again there is a double downtrend line. Let's see if FTT can start another uptrend wave or not.

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Just an update.

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So, FTX finally went up. Let's see if it can reach the channel's upper line or break it.

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So, FTT finally broke the channel, went up, and made a pullback on the channel's upper line too. Further upward movement is possible, however, FTT might need some resting. Let's see what happens.

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Could FTT be aiming for the moon!? Let's see if this can happen.

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FTT is oscillating in a minor sideway channel.

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FTT correction wave is complex one; it is a mixture between an ascending triangle and a sideways channel. Let's see what happens.

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FTT is still oscillating in the sideways channel; probably there are going to be more ups and downs. Let's see when FTT breaks this channel.

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Just an update. FTT still oscillating in this minor sideways channel.

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So, the minor sideways channel scenario for FTT is invalidated. The correction wave might unfold in the form of three waves, a-b-c, zigzag, or a complex one. Let's see what happens.

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So far, FTT's correction wave have unfolded two a-b-c wave patterns. In order for the correction to be finished, an upward wave must start and close above the X level. Otherwise, correction continues into a complex one. Let's see what happens.

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So, it seems FTT is almost ready for the next upward wave, the 5th wave. As can be seen, the 3rd wave reached the 1.618 Fib extension level, which means the 3rd wave is not so much extended, and as a result, the 5th wave could extend beyond a regular wave. Anyway, the first target for the 5th wave is shown in the chart. Let's see what happens.

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So, FTT is trying to break the downtrend line; if successful, the next upward phase start. Let's see what happens.

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So, as it turned out, FTT's correction was a complex one, comprising three a-b-c pattern. Then, FTT broke the second minor downtrend line. There is also the possibility of an inverted Head and Shoulders pattern. Let's see what happens.

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Almost ready for the next upward wave. Let's see what happens.

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So, FTT is trying to break both the minor and major downtrend line. There is going to be a pullback, probably. If FTT breaks the major downtrend line, that means a major upward wave has started. Let's see what happens.

SaeedSalehinia

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