ðĨ Hi friends! FTM is looking stronger as the most altcoins during last 2-3 month. It's skyrocketing even before FTX start to crush. Now we see the local pullback because of BTC pullback and the false breakout of key level $0.2614.
SHORT. I think that FTM can make at least one pump before return to $0.22-0.23 value area which is HUGE SUPPORT. The final pump above the key level of $0.26 force the retailers to buy. They also become the fuelðĨ for the dump.
ðĐ The volumes should increase that show you pressence of the whales who selling their holdings to retailers that buy on PUMPs.
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THE TARGET FOR SHORT IS THE CLOSEST AND BIGGEST VALUE AREA OF $0.22-0.23.
LONG. You can open a long trade on the same false breakout of the local level. I have marked for you on the chart the most possible scenario according to which this trade deal can be opened.
ðĐ Always pay your attention to the volume indicator. It helps you to see where the big guys sell and buy crypto.
ðĨ Personally I use DOM and Footprint scalping tools that help me to trake the real whales orders in live. I have a lot of study materials and videos about this indicators.
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THE TARGET FOR FTX LONG WILL BE THE KEY LEVEL $0.26, BUT CAN BE CHANGED ACCORDING TO THE BTC MOOD.
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P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.