Technical Analysis - Fantom
FTM/BTC - 03/13/2020


Transparency Disclaimer: 

This Technical Analysis was brought to you by DueDEX

DueDEX, registered in Belize, is a fair crypto derivatives trading platform that offers unique trading tools. The DueDEX Risk Manager ™️ is a powerful tool that allows you to easily set stop-loss, take-profit and account risk with a slider. The product is unique as the first-of-the-kind offering a comprehensive "DueDEX Risk Management" suite. It is well-designed for both professional traders and those new to margin trading.

As shown above, we will be updating the technical analysis of FTM from the 20th of February. 

 

Overview: 

Since the last update, we have broken the possibly crucial support and just continued with the breakdown. Unfortunately, FTM was not much affected by the bullishness of Altcoins during that period, which led to a clean re-test of the broken support before a major breakdown. 

 

Update: 

The MKAST-Algorithm had turned into a Sell-Signal right before FTM broke the support. Since then, it is still continuing to stay on a sell and most likely will do so unless we see clear signs of strength again. The TJ-Index is just at 3 out of 15 points now, this is indicating clearly oversold conditions, but it is still not viable to see a reversal, which is more likely at an Index level of 0 out of 15. The selling volume is obviously increasing, meaning sellers are actually there and selling significant amounts. To conclude this pair, there is not much left to do, apart from setting it on a watchlist and setting alerts for an MKAST Buy-Signal. Knife catching is dangerous and should not be done, especially not in this market. 

This Technical Analysis is made by Kong Trading. The provided analysis should not be considered financial advice!


DISCLAIMER

The content is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained on our Site constitutes a solicitation, recommendation, endorsement, or offer by Upblock or any third party service provider to buy or sell any cryptocurrencies (also called digital or virtual currencies, crypto assets, altcoins and so on). Trading and investing in cryptocurrencies (also called digital or virtual currencies, crypto assets, altcoins and so on) carries a high level of risk, and may not be suitable for all investors. Before deciding to trade cryptocurrencies, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with cryptocurrency trading and seek advice from an independent financial advisor. ICO's, IEO's, STO's and any other form of offering will not guarantee a return on your investment. Since

 

Any opinions, news, research, analyses, prices, or additional information contained on this website is provided as general market commentary and does not constitute investment advice. Upblock will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. All opinions expressed on this Site are owned by the respective writer and should never be considered as advice in any form.