$FTT Play
FTX may be done but the ecosystem is still exigent and interesting...
Long accumulation period at the bottom and little movement with the L1 narrative ?
Opportunity....
FTTUSDT has been rejected from the 100 SMMA on 8h - momentum is weakening -
Seeing a price collapse with resistance becoming the band between 20-50 SMMA until finding support in the blue zone, where expect to see some reversal.
Options to play this:
> Sell into the resistance 20 SMMA and buy deep reversals to multiply your upside on the drift down
> Aim to catch reversal zone
Invalidation is easy - 1-2 SD's over 8h upper band.
Long accumulation period at the bottom and little movement with the L1 narrative ?
Opportunity....
FTTUSDT has been rejected from the 100 SMMA on 8h - momentum is weakening - Seeing a price collapse with resistance becoming the band between 20-50 SMMA until finding support in the blue zone, where expect to see some reversal.
Options to play this:
> Sell into the resistance 20 SMMA and buy deep reversals to multiply your upside on the drift down
> Aim to catch reversal zone
Invalidation is easy - 1-2 SD's over 8h upper band.
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.