Technical Analysis - Fantom
FTM/BTC - 02/20/2020
As shown above, we will be updating the technical analysis of FTM/BTC from the 26th of January 2020.
Since the last update, quite a bit has happened. Right a few days after, FTM has made a nasty move downwards, shaking out anyone with weak hands, apart from the algos. The target of the re-test of the previous support area is remaining and has not been hit yet.
As one can see in the picture above, the MKAST Algorithm has tuned into a sell-signal after breaking the previous long-entry. Things are looking like FTM might be going for the test of the last low again. This would be quite interesting, though, since we saw a similar scenario happening right a few months back, which unfortunately was followed by another dump that brought us to the local levels. The chances of FTM bouncing are quite high and increasing since the TJ-Index is getting quite low, and the volume on this correction is low as well, indicating that not many market participants are looking to sell FTM at these levels.
This Technical Analysis is made by Kong Trading. The provided analysis should not be considered financial advice!
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.