Trade Overview:
FTM is forming a bearish wedge pattern, suggesting a potential downward move, particularly with the anticipation of bearish news this week.
Trade Strategy:
Entry: Consider laddering into spot positions between $0.55 to $0.45, allocating 50% of the position within this zone.
Confirmation: Look for price to close above the 200-day MA on the daily timeframe within this zone, indicating bullish momentum and flipping the zone into support.
Take Profit: Set a take profit target at $0.80, with the next area of resistance at $1.
📊🔍 Monitor FTM's price movement closely for entry confirmation and adjust strategy accordingly! #FTMTrading #CryptoAnalysis 🌐🔒
FTM is forming a bearish wedge pattern, suggesting a potential downward move, particularly with the anticipation of bearish news this week.
Trade Strategy:
Entry: Consider laddering into spot positions between $0.55 to $0.45, allocating 50% of the position within this zone.
Confirmation: Look for price to close above the 200-day MA on the daily timeframe within this zone, indicating bullish momentum and flipping the zone into support.
Take Profit: Set a take profit target at $0.80, with the next area of resistance at $1.
📊🔍 Monitor FTM's price movement closely for entry confirmation and adjust strategy accordingly! #FTMTrading #CryptoAnalysis 🌐🔒