Price action shows common supports and resistances based on the price action and Fibonacci. The total evaluation for the asset FTM is bullish. The coin itself has a very healthy buyer interest, what is more impressive is the fact that it created a very good lower high in the current oversold indication from the Relative Strength Index (above 1$) compared to the previous oversold mark of below 1$ within the red zone. The bearish divergences are very normal and represents difficulty in keeping the price there, but since the 1$ region will now serve as strong support, one can expect long term confidence in holding/investing in this asset especially during a bull market.
The recommended strategy for this coin is to buy it within respectable buy orders and hold it until it approaches different segments of strong resistances/selling area. You should only short this coin under 4 conditions combined:
The recommended strategy for this coin is to buy it within respectable buy orders and hold it until it approaches different segments of strong resistances/selling area. You should only short this coin under 4 conditions combined:
- If it reaches "STRONG RESISTANCE" area
- If BTC is in a downtrend by the time it reaches there
- Overbought in the Daily Time Frame
- Overall Market Sentiment is Bearish (Higher Inflation, DXY increasing, Omicron, etc.)