FTT was trading in a descending channel since its ATH (~86) which it reached in September 2021. Recently, it has broken out of this channel and here we hypothesise an ascending channel.
From analysing FTT’s previous pattern where it formed an ascending channel it seems that this could occur once again. This idea is that FTT will continue to trade in this channel for the near term. The initial resistances within the channel are at ~51 and ~61. If BTC continues to move up, FTT can flip these resistances into support.
Please note I am not a financial advisor and this is not financial advice. All ideas are for educational purposes only :)
Please feel free to leave your comments and thoughts below!
From analysing FTT’s previous pattern where it formed an ascending channel it seems that this could occur once again. This idea is that FTT will continue to trade in this channel for the near term. The initial resistances within the channel are at ~51 and ~61. If BTC continues to move up, FTT can flip these resistances into support.
Please note I am not a financial advisor and this is not financial advice. All ideas are for educational purposes only :)
Please feel free to leave your comments and thoughts below!