$FTM FANTOM broke the downtrend and preparing for an uptrend!
Updated
FTMUSDT has recently broken through its Major Resistance Trendline and successfully consolidated above this level, signaling a potential trend reversal and the beginning of a displacement towards buy-side liquidity sitting just above the current structure.We’ve observed a clean breakout from the downtrend, which now positions FTM in a bullish scenario. The price action is likely to experience a short pullback into the 4H Breakaway Gap (as shown on the chart), where we can expect further accumulation before a continuation towards higher liquidity zones.
Suggested Entries and Targets:
Entry: On the pullback to the 4H Breakaway Gap around $0.71 - $0.72
TP1: $0.85 - The first target aligns with the next structural resistance.
TP2: $0.95 - A move toward this level would target liquidity resting near psychological resistance levels.
SL: Below $0.68, under the breakaway gap, to avoid exposure to potential downside volatility.
Given the bullish momentum and structure development, we are preparing for further upside movement. As always, smart and safe trades with proper risk management are key.
Please feel free to share your thoughts and ideas in the comments. Always stick to your strategy and follow updates closely.
Trade closed: stop reached
Unfortunately this trade idea didn't go as planned, FTM lost it's trendline support and start descending
I will share a new chart about FTM and how can we prepare for some new entries as bear and bulls
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