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FTMUSD Bearish trend continuation

Atualizado

In two days we have done -22.67%.The immediate bearish volatility can imply. In the short term this might be confirmation of a lower high.
If we break the next resistance trendline. Then we might be closer to hitting our -35% target as analyzed in the linked chart.

Trade ativo

A retest of the trendline

Trade ativo

So a lot are asking why I am bearish on ftm on the short term ?

this was my summary on the linked chart:

Here are some bearish factors?
1).We had a pi cycle top on 26 October.

2).We have continually failed to break the linear regression trendline despite bitcoin breaking its 64k resistance.
3). It has rallied 232.37% in 34 days.

Conclusion:
The risk of a Potential upside rally while highly likely vs a potential short term wash of leverage by bearish price action.
I choose the bears for they have best t.a. Price target of 1.9 about -35%.

Trade ativo

Bears have continued showing they are in control. They have been accumulating below the trendline, which has turned to support. i think we will see more volatility to the downside in the coming week.

Trade ativo

So far price action remains in a bearish trend

Trade fechado: objetivo atingido

Target reached taking profits and reducing my risk.

trader734567

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