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FTMUSD trade ideas

FTMDaily Crypto Report FTM sitting at a very critical support level. The 1.82 support level also coincidence with the fib golden pocket retracement. If the 1.82 support level is taken out then it will be an easy ride down to the 1.29 and then 0.93 support level. FTM does seem to have a double top breakout to the downside with increasing volume so it might retest to the blue lines and then sell off. A full measured move for the double top is down to the 0.93 level. The double top can only take place if it takes out 1.29 support level. I also want to note that on the weekly chart it is doing a bearish engulfing candle. I'm staying neutral until the 1.29 level can be taken out.
GEMINI:FTMUSD
by pravenmoorthy
DONT FREAK OUT!! FTM is still in consolidation.On the longer term chart we can see that FTM is still in a bullish consolidation pattern. Even though we had a decent drop this is the best thing that could've happened for fantom on the long term. If we can get a third confirmation of the lower trend line as well as the upper, this pattern will be confirmed. Remember though, even confirmed bull flags only break bullish 60-70% of the time. Patterns can fail and do all the time. I expect FTM to break out of this pattern sometime april-june, as these patterns usually don't exhibit breakouts until the price action has moved to about 70% the way through the pattern. Notice where I have circled the volume. The volume now is much much lower now than it was when FTM was in a rally. This is also supports the idea that were still in a consolidation pattern, however a long-term one.
FLong
by MarketM8ker
3
FTM Short after it's next rallyFTM is a fantastic project and I made a mistake not holding this short and entering long on TOMB Finance. It will bounce as BTC will over the next week or 2 and most likely regain over the 2.1-2.2 area, here I will be exiting positions with whatever cash is left and entering short for the weeks afterwards. I will accumulate more FTM on the way down but it is never good to catch a falling knife. This chart looks to be a few weeks behind BTC's, which means it could fall 50% from here still.
FShort
by cheliosTD
3
FTM to $2.13 levelFantom just broke bearish from this continuation pattern which is nestled inside a larger H&S pattern. FTM also rejected pretty hard right at the top of the red ichimoku cloud. Both patterns give a target price of around $2-2.2 I am expecting FTM to pull up a bit and touch the trendline it broke out of before continuing to the downside. This would be optimal as it would reset the RSI on lower time frames for a continued downward move. I have set up on the chart my intended play with take profit and stop loss levels. This is not financial advice. Trade at your own risk. *NOTE* If fantom does not retest the trend line I will likely set up a long position after the price target has been reached. FTM needs to do this rather soon or else it will continue to fall, in accordance to the ichimoku.
FShort
by MarketM8ker
7