FTTUSDT trade ideas
FTTUSDT Long Triangle breakoutThe FTT token is well above the 50% fib level which shows me strength, it's breaking out of the purple orderbox and starting to test the resistance of the triangle. I would like to see a break out and a re-test before going long. Fundimentals as a long-term investment is also looking good so I'll go long whether it re-tests the breakout or not.
FTX Token - ATH? 🤔FTX token recently made all time highs but the quickly dropped back down.
It broke the major trendline, which tells us that the uptrend is growing weaker. We are now struggling to move up back to ATH's.
Will be keeping a close eye on this and if we correct all the way to ATH, could be the making of a great short!
However, if we see any bullish corrections now, we can get in with stops below the red trendline.
#FTXTOKEN #FTX DAILY CHART TECHNICAL ANALYSIS
Considering the orange and purple uptrend channel and the fact that the price has supported its uptrend line, as well as the formation of a triangular pattern, we can expect the price to grow to one of the following targets.
TARGET1: 100$
TARGET2: 140$
TARGET3: 170$
Due to the strong resistance on the first target, if the price reaches this target, save profit and free risk must be done.
STOP LOSS: 47$
ENTRY: 66-58
TIME 2-8W