FTM/USDT: Wave Pattern Signals Potential 80% Upside | Key Levels
2025-01-06
Category: None


Technical Analysis:
1. Price is currently at $0.7892, down 4.63%
2. Wave structure suggests completion of ABC correction at point (C)
3. Fibonacci retracement level at 0.786 aligns with potential reversal zone
4. Two target zones identified:
   - First target: ~$1.20-1.30 (Wave 3)
   - Second target: ~$1.30-1.50 (Wave 5)

Trading Setup:
- Entry zone: $0.75-0.78
- Stop loss: Below point (C) around $0.70
- Risk:reward ratio approximately 1:3 for first target

Key Points:
- Bullish divergence forming at current levels
- Price testing ascending trendline support
- Wave structure suggests start of new impulsive wave up

Caution:
- Wait for confirmation of reversal with price action
- Consider position sizing due to crypto market volatility
- Monitor BTC correlation for trade validation