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FuturoCoin for traders: FTO/BTC April 11: The FTO / BTC market yesterday tested the historical low of 21/04/2018, which is around 0.0004-0.00039. After reaching and breaking this level, panic struck the market and everything indicated that the bears have a market under full control, leading to a price of 0.000301. This was a key moment and there was a strong hit on the market, which led the price to 0.0004. Thus, the market has returned above the historical minimum. At the moment it seems that this is not the last word of the bulls – if it will be managed to lead an upward correction to the 0.00056 levels, and then the level from the bottom will be broken – there is a good chance that the local minimum will end the downward trend.
FTO/BTC – Friday March 5 at 8:30 a.m.
The FTO / BTC market from 20/02 moves in a narrow channel with a downward trend, where the bottom line runs around 0.000687 (support) and the upper resistance line is 0.0008000. 02/04 The market came out of the channel at the bottom which was the effect of BTC’s strengthening on global markets. The lower limit of the channel is at this moment the nearest resistance which runs in the vicinity of 0.000658. In the case of a positive crossing by the bulls of this level should end the downward trend lasting for several weeks. However, if the given level turned out to be unbeatable at this moment, one can expect further losing of the market to around 0.00047 where a long-term support line runs.
The FTO / BTC market from 20/02 moves in a sideways trend where the bottom line runs around 0.0007830 (support) and the upper resistance line is 0.0008700. Breaking the market through any level will set a further direction for the market. Keeping in mind the breakdown of the market last week by downward trend lines, the current side trend can be used to accumulate the Buy position – if, however, the market will break the level of 0.0007830 it should be a signal to close the position.
The FTO / BTC market 24/02 broke down the downward trend initiated on 30/01, giving hope for bulls to lead an upward correction. The breakthrough of the downward trend line took place on the increased volume, which gives another signal that the downward trend was completed. A successful demand attack on level 0.0009 opens for bulls the way for further increases. The closest support is in the area of 0.0008.
Regardless of the current price of FTO or any other cryptocurrency, a smart trader can earn money no matter what way the market, or any particular coin, is heading towards.
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