FTTUSDT trade ideas
FTT in an uprising channel, breaking it just a matter of timeFTT is in an uprising channel. As this is the token of the innovative and strong growing exchange FTX, breaking this channel to the upside is just a matter of time. When it does, you don’t want to miss it.
FTT Breakout?Low volatility in ATR accompanied by almost invincible bars in the MACD Histogram shows a possible breakout but we cant go long just yet..
Donchian Channels should give us the heads up or a very strong price rejection shown on a candlestick.
Bullish!FTTUSDT completed triple bottom (somehow double bottom) pattern and has potential to move up to 3.96 USDT!
FTT/USDTWeekly:
MACDH: not showing uptrend, but Stochatis RSI and Ehler Cycle show starting of uptrend. EMA12 still give higher value every week.
Daily:
MACD already cross up Signal line from below Zero. It is going to cross up Zero line.
MACDH is above Zero and flat, it shows the price is going sideway
Stochatis RSI is up
Ehler Cycle up
=> Good entry
FTT potential short. Waiting for confirmation of downtrend. I will execute the trade on a break and re-test of the trend line. Let me know what you think! Short down to .618 fib
FTTUSDT AnalysisAt this moment, there are 1 SELL signal present and the risk-reward ratio is lower than 2, so this is not a good time to buy.
If you want to buy again, we have 3 different options.
1- You can wait for EngineeringRobo's BUY signals to be present,
2- You can wait for candles to open-close above resistance level (4.49) for 1D to buy,
3- You can buy when candles touching the support line (2.94).
After you buy, please watch out for EngineeringRobo's sell signals and consider selling it.
FTT/USDTFollowing the acquisition of Blockfolio by FTX exchange and the announcement by both companies on the roll-out of trading capabilities on Blockfolio, the number of active users on FTX exchange is expected to increase from 200K-2M active users potential.
Blockfolio has +1M downloads on Android, assuming there are other 1M users with iPhones.
Conversion rate of 10% would put us on 200K users being added to FTX exchange, I expect a much higher conversion rate since Blockfolio users really love the app and are willing to try new things that blockfolio offers, I'm saying this as a marketing expert that has the ability to identify such user behaviors towards such applications, I've been Blockfolio users since early 2017 on daily basis.
The average buyback and burn rate on FTT in the last 10 buy backs has been doubled, from an average of 45K FTT to an average of 110K FTT - this is very logical since the industry has been growing fast with new users joining the crypto space.
Keeping in mind that the FTT price from 23.06-22.07 was in the range of: $3-$3.16 (looking at highs ONLY)
And since 22.07-25.08 the FTT price was in the range of: $3.16-$3.6
Conclusion: the number of active traders on FTX grew. (Without the upcoming push and release of the trading capabilities on BlockFolio).
To back up the above - looking at similarweb, FTX exchange has monthly visitors grew from 810K in February to 1.35M monthly visits in July (1.66X).
While 72% of the traffic is direct to FTX exchange - Strong brand and high daily active users.
I believe the trading volume as well doubled, but I'm having a hard time to pull the historical trading volume on CMC.
The above analysis leads me to the decision that FTT token could possibly push the price up further by the end of the year.
Currently the support lines are on 3.6USDT and 3.2USDT (going below 3.2USDT, means we might turn bearish)
FTTUSDT ANALYSISI have 4 positive signals It is above the horizontal line
You can still buy this coin but watch carefully EngineeringRobo' s sell signal
If you hold this coin sell with EngineerinRobo' s sell signal
Have a good trade If you want to use EngineeringRobo please dm me.
