Updated
Fantom 50
Nothing fancy here. The question is will Fantom price action come back to the 1W50ma before breaking out?
I am hoping history will repeat itself.
My reasoning behind this idea is that price moves away from a moving average in the form of volatility,
then returns to it for price stability. Or, in an emotional sense, we get excited, then we calm down.
Please feel free to comment as i would love to hear your thoughts.
Note
This is playing out quite well on the weekly chart.On the daily chart the stochastic RSI and the RSI both have room to move lower with the 50ma about to move below the 200ma.
An interesting few days/weeks ahead.
Note
Note
Idea invalidated. Fell through the 1W50MA, fell through the 0.618 to the 1W100MA.1W100MA looks weak as a support level. While there are several support areas that FTM may finally settle at, i am wondering where the price will fall to should BTC break lower as i am suspecting it might. I don't think FTM is in a strong position at the moment i don't see a test of the $3.00 area any time soon. Let's get above $0.95 first.
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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.