๐ฅ FTM Head & Shoulders Complete: Massive Sell-Off Ahead?
FTM is currently trading on top of the bull-market support line. By touching it yesterday, FTM has successfully completed a head & shoulders pattern.
This pattern is a bearish reversal pattern and usually the start of a new bear trend. This could indicate that the "real" drop of FTM has yet to occur.
In my view, there's only two areas of support in the vicinity, $0.15 and $0.055, which are drawn in blue.
At last, for whom have concerns about the validity of this pattern: H&S patterns do not have to be symmetrical and/or horizontal, shoulders can also be different heights.
This pattern is a bearish reversal pattern and usually the start of a new bear trend. This could indicate that the "real" drop of FTM has yet to occur.
In my view, there's only two areas of support in the vicinity, $0.15 and $0.055, which are drawn in blue.
At last, for whom have concerns about the validity of this pattern: H&S patterns do not have to be symmetrical and/or horizontal, shoulders can also be different heights.
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