LONG FTTPERP FROM 47 TO 50 TARGET 110FTTUSD has both fundemantals and technicals on his side.
Technically 47 when it will hit and bounce at 47 usd ftt will be having it's double bottom on the the overall pullback from 83.
technically a bounce from 47 usd area can lead us to the target area 120 to 130 USD.
but hey it's crypto, then fundamentals say this:
sam bankman is now free to pump ftx coin. Why? because he bought back binance dominance in ftx; if binance went from 9 usd to 500 usd with all the fuds against CZ I only wonder where Sam bankman will take his coin. In my opinion it can go far way beyond 1k by next year. Noticed how FTT pumped since they bought back binance shares in FTX?
So what's the plan?
I personnaly bought a lot of ftt on and i'm also trading a small part on margin. My Margin long will be 5X around 47 only if price bounces when it hits that area. If price goes UP from here ? no worry i'll buy at market at 52 and wait. the only problem will be fees.
Bearish scenario? Only if price BREAKS below 47 and goes to 1.618 area which is 41, and from 41 if we don't get the strongest rally in crypto's history then ftt is worthless.
what's the strategy from now? Wait today and tomorrow either 3 scenario happen
1. Hit 47 and bounce we buy after bounce around 48. don't buy before you see any reaction it would be gambling.
2. Price rallies from here this area at the moment of publishing is the 78% fibs from 47 usd to 60, then same strategy just fomo in or wait for a small pullback at 5min if you're too cautious
3. it breaks 47 USD and no reaction please wait 41USD and watch the reaction, something surprising might happen.
When take profit in case of pump? December baby, let it roll up down until december and just take profit at the end of the first week of december , we might miss out but better miss a few than see your profits melt.
Good luck to everyone
