FTM Analysis - How Low Can It Go?Hello Traders!
This analysis for FTM was done at the request of one of our members. I was actually quite Bullish on this crypto last year long before the leader left and chaos ensued.
So where is price headed?
- To be brutally honest... This is one of the worst charts that I've seen in a while. I can't find a single Bullish indicator anywhere on the chart. I actually think FTM could be trading around 0.20 or less by the end of the year and I'm serious about this.
- In the short term I would like to say I think it could bounce considering it's at a support level and has come into this level quick (indicator of potential bounce) but this crypto has underperformed so much that even when a bounce setup occurs it blast through the level and continues lower.
***I really don't have much to say regarding this crypto, if it was me I wouldn't put a single penny into FTM. It's done nothing but trade down with the exception of a couple bounces but aside from that this has got to be one of the worst performing coins in Cryptoland.
- For anyone holding FTM, I'm not trying to be abrasive, I'm just giving my honest opinion.
***I suppose you could short FTM but I would caution against shorting period unless you are experienced.
***Let me finish by saying this...
- If you are HODL'er of FTM, I would think very carefully about your plans for this crypto. The probabilities of you continuing to lose money with FTM are VERY high especially considering BTC is projected to hit $20K in the coming months.
- Personally I learned the hard way and had liquidated my account on several occasions when I first started trading. I left my money in cryptos like ADA, holding on because my emotions told me to. There was no logical reason to it, the charts said otherwise but I was attached to it and couldn't bare taking that size of a hit. In the end I lost all the money invested and learned the lesson of what happens when you allow your emotions to dictate your trading decisions.
- Lastly, I don't know if anyone reading is in this particular situation, but either way it's a good lesson to be learned. Charts like FTM will undue months if not years of work saving money to invest.
That's all, thank you everyone and best of luck trading!
FTMUSDT
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🔰BUY FTMUSDT at 1.0300
✅TP ; 2.0600 (+10300 pips)
❌SL ; 0.9180 (-1120 pips)
📊R/R ; 0.1 (This number is derived from the division of Risk to Reward and must always be less than one, and the less it is, the better🧐)
🔰BUY FTMUSDT at 1.0300
✅TP ; 3.1000 (+20700 pips)
❌SL ; 0.9180 (-1120 pips)
📊R/R ; 0.05 (This number is derived from the division of Risk to Reward and must always be less than one, and the less it is, the better🧐) 🔥🔥
🔰Due to the price in the demand area and the fatigue that is evident in the price movement, if the price breaks the white downtrend line. Buying in this area seems low risk. The first target is located in the nearest supply area and the second target is located in the main supply area, which was previously the highest price for this crypto.💰👌
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I hope this analysis is useful for you🙏🏻🌹
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FTM ANALYSISOn daily timeframe chart is forming a "descending parallel channel"
If the candle closes below the major support zone of $0.74 then price will reach the weekly support zone of $0.5.
Wait for breakout of the resistance trendline of the parallel channel or touch to weekly support zone to build a position.
FTM/USDT ChartHi, I try to post often so if you could follow and like it would mean a lot to me.*
FTM has been droping for a while and it can drop even more. However with the low volume that is going on any trade is welcome. FTM is undervalued in the 1D chart and in the 4H chart so I am preety confident that in the short/mid term the coin will perform well. I don't think that FTM will run again so this is just based a lower time frame trade. MACD is also looking strong. I expect higher volume in the next hours so don't miss on this long oportunity. Be careful and don't trade with high leverage. Comment what you think.
* Its been a while since my last post and I apologise for that. I have been really busy in the past weeks and my next 2 months will be exactly the same. I didn't spend enough time to research for ideas that I think that are worth posting and with low volume trading became even harder. I will try to stream every friday but I can't promise anything. I am truly sorry and when I can I will make a huge comeback for sure
Ftm trading in a big range!I really didn't think a dip like this would occur.. but it did. And now i see the best trading opportunity here for FTM! It is on a big support that used to be strong resistance before and i doubt it breaks to the downside! But if it does, then it breaks its last support it has. It literally has no other supports down there... so i would definitely take this trade right here right now. I will take profit at 1.3 on this trade since that's a resistance. If you want, you can keep it open for higher targets like 1.5 or 2.
Leverage: x4
Stoploss: 0.87
Take profits: 1.3
FANTOM BEATS ETHEREUMWhile Ethereum struggles with high gas fees and the switch from pow to pos , Fantom is way more utile than ETH till they upgrade to ETH 2.0 maybe in 2023. For those who don't know about FANTOM here is a brief definition from cmc:
Fantom is an open-source decentralized smart contract platform for DApps and digital assets that was created as an alternative to Ethereum . Fantom has the goal of overcoming the limitations of previous generation blockchains and balancing three components: scalability, security and decentralization.
The bad news for this setup is the $BTC as always, we need this $BTC move inside the bear flag:
FTM done correcting? FTM corrected 54% after the Supertrend Ninja - Clean signal on the 25th Jan (red vertical line on the background).
FTM is currently on a support level. The Stoch RSI is in oversold levels, but it hasn't crossed up to the blue area yet. Also the price is below the Ichimoku cloud, which is bearish. The RSI and Constance Brown is in oversold area as well. If FTM bounces here, we will have a bullish divergence confirmed for the RSI. A few more days will give us some more clarity.
Bouncing up here 1.30 USDT is the next target. Dropping here 0.73 USDT is the next target. 0.59 USDT thereafter. The Supertrend Ninja - Clean tends hasn't given a bullish signal for the time being (green vertical line on the background). Supports and Resistances are highlighted as grey blocks.
Thank you for reading.
Namasté 🙏
Disclaimer: Ideas are for entertainment purposes only. Not financial advice. Your own due diligence is highly advised before entering trades. Past performance is no guarantee of future returns.