✴️ Fantom Bulls | Test And Retest Completed

8 ก.ค. 2023

The Fantom bulls are ready.

When a bullish breakout happens there is always a retest before additional growth, let me show you in detail.

Fantom started its bullish phase after hitting a low in November '22.
This low is the "test" that leads to the first wave in the 5 up wave pattern of the Elliot Wave bullish impulse.

In mid-December '22 we get a higher low and that's the "retest" which matches wave 2 of EW.

Fast forward to 2023 present time.

June 10 FTMUSD hits a low and starts a new bullish wave, can be a 1,2,3,4,5 bullish impulse. After a bullish break, a retrace is normal and this we are calling here the "retest".

This happened 7-July and ends in a Doji candlestick, meaning indecision. Today going green and then closing green would give a confirmation for a reversal (resumption of the bullish move).

The test and retest can also be seen as a short-term higher low.
Classic retrace after a bullish breakout that leads to additional growth.

And thus we can expect higher prices as long as the 10-June low holds.

Namaste.