I've been Holding FTT (FTX exchange tokens) I bought around $1.6-1.7; I feel it is a good token for long term, so here's my small analysis on FTT for today!
Do read on if you want to take advantage of the trade setup I've observed! :)
Here are a few tips/rules when you are trading:
- Never get too greedy
- Never get too emotionally biased
- Dont go all in on one asset (New way of saying, dont put all eggs in one basket!)
I'll be occasionally giving out a few tips on my analysis
*Overall bias on $FTT: Bullish long term
I will be charting FTT/USD pair for today.
FTT/USD 1D
Chart:
Link: https://www.tradingview.com/x/vjCh6Dac/
Overall Bias: Neutral/bullish
Critical zones have been marked on chart!
Points to note:
- Symmetrical triangle observed
- Already in a previous uptrend
You can expect up to around 10-12% (minimum) on breakout.
Lets have a look at the divergences. I observed a small bullish divergence here. (Read below)
FTT/USD 1D
Chart:
Link: https://www.tradingview.com/x/IU0AtHPO/
Point to note:
- Price made a lower low, and RSI made a Higher High.
On smaller timeframes, I dont see any major movements, so I'm omitting that as of now. I'll update if I see anything :) )
Ideal buy zone is marked on the chart. In case you see it breaking out on the wrong side, here's one more chart, (so manage your risk properly)
Something around $2.4-ish will be a good buy if this breakout fails.
Image source: FTX Exchange.
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