ðĨ FTM Bullish Channel: Ideal Reversal Point
A couple of days ago I made an analysis on FTM. Here I argued that a bullish break out from the ascending wedge was likely to happen.
The first target from the previous analysis has been reached. However, we faced some strong selling pressure around the $2.45 area, which made the price reverse strongly twice.
Another pattern has appeared on the FTM chart, a bullish channel. Assuming the price will follow this channel in the coming days, I'm expecting more bearish pressure for FTM. Ideal area to make a reversal trade would be around the channel's support area, potentially around the $3 area if the price drops quickly. Target for the trade would be $3.45.
Happy trading!
The first target from the previous analysis has been reached. However, we faced some strong selling pressure around the $2.45 area, which made the price reverse strongly twice.
Another pattern has appeared on the FTM chart, a bullish channel. Assuming the price will follow this channel in the coming days, I'm expecting more bearish pressure for FTM. Ideal area to make a reversal trade would be around the channel's support area, potentially around the $3 area if the price drops quickly. Target for the trade would be $3.45.
Happy trading!
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