FTT Technical Analysis: Global Correction Or New Growth Wave?

Nine trading weeks on the FTT market passed under one melody – the melody of the fall. During this time, the FTT price fell by almost 50%. However, sellers failed to update local lows from May to June 2021. For example, the Bitcoin price updated local lows, although this happened in the form of a false breakdown. Thus, the FTT price has not yet reached even the liquidity zone of $23.6. It is from this liquidity zone that you can invest in low-risk FTT with a global target of $52.77. From this point, a new local fall wave may begin, which is likely to overwhelm the bottom line of the global growth channel. This channel of growth is controlled by buyers from March 2020. https://www.tradingview.com/x/NUJ8nyzW/ Only after buyers prove their strength and maintain this trend line can we expect the formation of a new growth wave with the historical high update. For now, we do not expect the price to grow above $52.77. Moreover, at around $37.46, we recommend fixing the first part of the profit. At this point is the local fortress of sellers, from which they will have a good chance to continue the fall wave in order to update the local lows from May to June 2021. Technical Analysis Of FTT On The Daily Timeframe https://www.tradingview.com/x/pEotXHlD/ Analyzing the movement of the FTT price on the daily timeframe, we see that buyers are trying to develop growth. However, the price has not yet emerged from the local downward trend. At t...