FTM/USDT - Possible Double BottomHello traders and community, today we will tell ourselves shortly about the situation of FTM/USDT
Trend analysis
- As you can see from the FTM/USDT daily chart, the price of Fantom token started stabilizing (range movement) and started forming double bottom pattern (white line on the chart), that's why we can expect upper movement with 60 % probability in short time period of time. As a trader I recommend to wait for correct signal and put short buy position up to 0.55 price level. Today's fibonacci support level (green line) is on 0.34751 price level, resistance level (red line) is on 0.55211 price level and global trend (orange line) is still bullish enough. Wish you good trades with this pair!
Chart pattern
- Bullish Double Bottom Pattern (processing)
Technical indicators
- RSI: market is still in boarders and is located near 50 level (not overheated, Neutral signal)
- MACD: MAs are prepared for downward movement + they started moving away from each other (Bearish signal)
- BB: Volatility of the market started stabilizing after volatile movement accomplished (Neutral signal)
- MA (10,20): MA10 is below the level of MA20 and stabilizing (Neutral signal)
= Overall neutral signal movement
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P.S.: Information provided is only educational and should not be used to take action in the market.
