Over the past year, FTT has formed a huge bearish wedge pattern. Classically, these are reversal patterns, so a strong bearish move would be expected.
However, I'm still fairly bullish on the crypto market as a whole. My expectation is that FTT will see some bearish moves in the near future. I'll be watching for the support area for a potential reversal.
A break below the support area might indicate a longer-term weakness.
Happy trading!
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