FTTUSD: $45 if this pattern plays out.
Hello All. Looking at FTX on the daily timeframe we see a formation of a descending wedge pattern which is a bullish cart pattern.
We see that the price broke bullish out of the descending line of resistance and currently sits above the 21 day MA.
The price target for this bullish breakout sits at $40 which is a potential 45% move towards the upside.
The $40 price is also a psychological level and also the previous resistance; so keep an eye on.
Happy Sunday...
Thanks for reading, and stay tuned. Enjoy.
We see that the price broke bullish out of the descending line of resistance and currently sits above the 21 day MA.
The price target for this bullish breakout sits at $40 which is a potential 45% move towards the upside.
The $40 price is also a psychological level and also the previous resistance; so keep an eye on.
Happy Sunday...
Thanks for reading, and stay tuned. Enjoy.
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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.