Technical analysis by Flyte-X about Symbol FTT: Buy recommendation (12/20/2023)

FTX may be done but the ecosystem is still exigent and interesting... Long accumulation period at the bottom and little movement with the L1 narrative ? Opportunity.... FTTUSDT has been rejected from the 100 SMMA on 8h - momentum is weakening - Seeing a price collapse with resistance becoming the band between 20-50 SMMA until finding support in the blue zone, where expect to see some reversal. Options to play this: > Sell into the resistance 20 SMMA and buy deep reversals to multiply your upside on the drift down > Aim to catch reversal zone Invalidation is easy - 1-2 SD's over 8h upper band.