From my last idea, $FTM bounced from the bottom and hit heavy resistance at the .5 fib (~$0.44) proving a very lucrative long if you managed to get in.
However now it's sliding back down looking to retest the support level at .618 fib. On the daily, $FTM is printing a nice bullish flag, with three failed attempts of breaking the top trend line of the wedge.
A successful retest of support at the .618 FIB will confirm a double bottom on the 4H and will likely have enough momentum to break through the .5 fib resistance.
After breaking through this resistance, next major resistance is at the .382 fib as the indicator on the right signals heavier volume than usual. If it breaks this .382 FIB, I suspect it to reach ATH levels.
Entry @ ~ $0.35 - $0.37
TP1 @ ~ $0.448
TP2 @ ~ $0.54
However now it's sliding back down looking to retest the support level at .618 fib. On the daily, $FTM is printing a nice bullish flag, with three failed attempts of breaking the top trend line of the wedge.
A successful retest of support at the .618 FIB will confirm a double bottom on the 4H and will likely have enough momentum to break through the .5 fib resistance.
After breaking through this resistance, next major resistance is at the .382 fib as the indicator on the right signals heavier volume than usual. If it breaks this .382 FIB, I suspect it to reach ATH levels.
Entry @ ~ $0.35 - $0.37
TP1 @ ~ $0.448
TP2 @ ~ $0.54
With a bullish div forming on the 4H, I've entered a long at $0.35 with a SL just below that major support @ $0.32
Be careful with $BTC price action as it has an immediate effect to $FTM price action