ðĨ FTM Rejecting From Resistance: Bearish Signal
A couple of days ago I made an analysis on FTM and the fact it was trading on a very important long-term resistance. For a break out we needed Bitcoin on our side.
As of today, both BTC and stocks are seeing further bearish pressure, which has led to FTM failing to break out for two times in a row, plus making a new daily lower low.
In my view, this is a decent confirmation of a change in trend. I've added a target in between at $0.22 in the case that stocks will make a weekly higher low and will retest the top trend line. See below.
As of today, both BTC and stocks are seeing further bearish pressure, which has led to FTM failing to break out for two times in a row, plus making a new daily lower low.
In my view, this is a decent confirmation of a change in trend. I've added a target in between at $0.22 in the case that stocks will make a weekly higher low and will retest the top trend line. See below.
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