Fantom FTM - Time for the bullish action! Elliott Wave + 200 MA

23 lug 2022

• On the daily chart we have an impulse Elliott Wave that has been completed and because of that, I expect an ABC retracement to the upside!
  
• A very strong resistance is at 1.13 - 1.00 USDT, we have a great confluence in this zone as you can see on the chart.
  
• Confluence: start of the gap + end of the wave 1 + end of the second wave 1 + 0.618 FIB retracement + 200 daily MA + psychological level 1.00 USDT.
  
• Price is printing a local descending channel and if bulls can break through this channel, then we can definitely go higher!
  
• Overall structure on the daily chart is bearish and I recommend only a short term counter trade here.
  
• I expect tremendous pumps for selected altcoins, you can find them in the related section down below ↓
  
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