So, it's still not clear what fantom is about to do but there's some idea about what i think can be possible:
If you are planning to invest in it, i'm probably not LONG not until 2.078 or 2.153 is broken, ask me why? that's clear, that's an area between 2 major swing highs, when a price cannot peneterate through it's swing high then it's not bullish
Current'y we have a very nice fitting sloped organe line which seems to be capturing price so well that i cannot deny it it comes at a confluence both resistant (which is a fresh one and just flipped from support and it's the first touch ever) and the top of the down-trending channel so you have at lease 3 type of trades on your side if you are short
The fork in force seems to be the green one, but it's doomed to fail if the swing high is not broken, if that breaks you can relay on the green for to catch the next move on MLL (Median Line Low)
but it seems that the fork in foce can be the blue one, it's not confirmed and is not ready to trade still, you can wait for the red lines to break, those are not major swings but they are inportant enough so you can detect a change in the behaviour
In addition, if the orange and channel broke, look for the Red fork, it can capture the price but not very trusted.
Feel free to ask me any question about the analysis
Thanks for your time
If you are planning to invest in it, i'm probably not LONG not until 2.078 or 2.153 is broken, ask me why? that's clear, that's an area between 2 major swing highs, when a price cannot peneterate through it's swing high then it's not bullish
Current'y we have a very nice fitting sloped organe line which seems to be capturing price so well that i cannot deny it it comes at a confluence both resistant (which is a fresh one and just flipped from support and it's the first touch ever) and the top of the down-trending channel so you have at lease 3 type of trades on your side if you are short
The fork in force seems to be the green one, but it's doomed to fail if the swing high is not broken, if that breaks you can relay on the green for to catch the next move on MLL (Median Line Low)
but it seems that the fork in foce can be the blue one, it's not confirmed and is not ready to trade still, you can wait for the red lines to break, those are not major swings but they are inportant enough so you can detect a change in the behaviour
In addition, if the orange and channel broke, look for the Red fork, it can capture the price but not very trusted.
Feel free to ask me any question about the analysis
Thanks for your time
Order cancelled:
Trade Idea is failed, the price zoomed through the orange line, will update this soon