FTMUSDT Bullish short-term + break-out target.

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For this particular analysis on the Fantom token we are using the FTMUSDT symbol on the OKX exchange.
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The idea is on the 1D time-frame where FTM has been trading within a Falling Wedge pattern since the May 23 2022 Lower High. Today it broke above the 1D MA50 (blue trend-line) for the first time since November 08 and that alone calls for a bullish extension towards the top (Lower Highs trend-line) of the Falling Wedge.

That would mean hitting the 1D MA200 (orange trend-line), which has been intact since March 03 2022. That would fall nicely on the 0.618 Fibonacci retracement level, which both previous Lower Highs either approached or marginally broke. A break above the 0.786 Fib (above the Falling Wedge) will be a bullish break-out signal for us, targeting the 0.4200 Resistance (August 13 High).


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