Fantom recently tested the 78.6 fibonacci level and previous structure that we had marked out since April. As price has created higher lows, we could potentially be on the verge of a breakout. One thing to note is that price looks very corrective moving up so we could see price come back down to create a double bottom before moving up.
If the ascending trendline breaks, watch for price to create a double bottom. However, if price breaks the 0.400 level, we may see a bullish reversal and we can enter on a retest or a bull flag. TP would be previous highs!
If the ascending trendline breaks, watch for price to create a double bottom. However, if price breaks the 0.400 level, we may see a bullish reversal and we can enter on a retest or a bull flag. TP would be previous highs!
