2022-11-08, FTX seeing Duck No Saur soonThis week seems to be shorting week for many including FTX.
Strong area looking now is 0.236 and 0.382 level in the Fibs.
FTXBTC
FTX Token FTTUSDT - Ascending triangle breaking out! New leg up- FTT token is very bullish on the higher time frames.
- Currently the price is breaking out of an ascending triangle - one of the most bullish patterns.
- Also we have a descending channel breakout, which indicates us bullish trend reversal.
- Next profit target is the all time high level, but in my opinion it will go much higher.
- The price is now finally above 200 daily moving average.
FTX/USD - At CRITICAL resistance! $46 will break or make it! 😲FTX has arrived at a critical resistance level - $46.
Failure to push higher will likely lead to a pullback.
However, as presented on the chart, this last pump may have been wave 4 out of a 5 wave structure and we may get more pain before gain (see wave E).
As such, DO NOT FOMO HERE. This is where you take profit if you entered around C level.
Even if the 3-day indicators are bullish, I would be careful here if you are considering a long. The 12h timeframe is looking a bit overbought.
For FTX to push higher, we need BTC and the whole market to pump more.
For now, secure those juicy profits and only consider a long if FTX breaks the current resistance and makes it support.
Bias is neutral on this set-up. It can go either way, but I tend to think we fall at least to $44 or so.
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