I could see something like this playing out. Maybe not to that exact time frame, but it does look like price action is squeezing between $35 - $45. Right now, the $45 area is acting as resistance. Once volume starts coming in, this will take off. $50 and $60 would be the next areas of resistance.
If BTC dumps hard, then this idea is cancelled.
This is not financial advice. These are just my ideas and opinions.
If BTC dumps hard, then this idea is cancelled.
This is not financial advice. These are just my ideas and opinions.
Note
4HR chart shows a cross upward on the MACD. Let's see if FORTH can maintain this upward momentum. A lot of this will also depend on Bitcoin's behavior, which is a little iffy right now. If Bitcoin dumps, this idea is most likely delayed/cancelled.Note
Bitcoin is heading toward $60K now. If the market continues this new bullish uptrend, then I'm expecting FORTH and other alts to make a move in the next couple weeks. Some alts are already showing a nice recovery.Trade closed manually
This idea is cancelled/delayed. Bitcoin dumped, which caused the entire market to dump. FORTH has lost previous support.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.