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$FTT (FTX Exchange token) trade setup.

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@beehivetrader
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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:

  1. Never get too greedy
  2. Never get too emotionally biased
  3. 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:

  1. Symmetrical triangle observed
  2. 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:

  1. 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.

Hope you liked the content, if so, please consider upvoting :)

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Posted Using LeoFinance