FTM/USDT
This analysis is based on a price action approach, utilizing multiple time frames, specifically the weekly, daily, and 4-hour charts to identify a key area of value (supply and resistance) despite the prevailing uptrend in the market, price reached a significant supply zone, where we observed a reversal in momentum as price began to retrace. I then waited for a confirmation of the bearish sentiment, with multiple consecutive bearish candles signaling the potential for further downside. This led to my entry, targeting a move from 1.4 to 1.2.
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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.