FTX/USD - At CRITICAL resistance! $46 will break or make it! 😲

FTX has arrived at a critical resistance level - $46.

Failure to push higher will likely lead to a pullback.

However, as presented on the chart, this last pump may have been wave 4 out of a 5 wave structure and we may get more pain before gain (see wave E).

As such, DO NOT FOMO HERE. This is where you take profit if you entered around C level.

Even if the 3-day indicators are bullish, I would be careful here if you are considering a long. The 12h timeframe is looking a bit overbought.

For FTX to push higher, we need BTC and the whole market to pump more.

For now, secure those juicy profits and only consider a long if FTX breaks the current resistance and makes it support.

Bias is neutral on this set-up. It can go either way, but I tend to think we fall at least to $44 or so.

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