(REPOST) [FTT Perpetual Futures Buy] - Crypto Academy / S6T4- Team Trading Contest Post for Reminane

Hola Profesor @ pelon53, Acá Está el resultado de mi Cuarto Trade de la Semana.

_{Image edited by me in Powerpoint}

1. Nombre del token e introducción del proyecto.

FTT or (FTX Token) is the native token of the centralized FTX exchange, which is a relatively new exchange with which I do most of my trades. FTT is in governance token by which you have access via Staking to various rewards and opportunities to participate in the exchange of other tokens before they go public.

FTX was founded in 2019 by Sam Bankman-Fried and Gary Wang with the goal of creating an Exchange that could improve all the problems present in other traditional Exchanges, especially in options on cryptocurrency futures contracts.

Sam Bankman-Fried has previous experience as CEO of Alameda Research, as well as a Software Engineer at Facebook and Google.

FTT can be found on a limited number of centralized exchanges, such as Binance, HitBTC, Huobi Global, and FTX Of course. In fact on FTX you can also find the FTT Perpetual Futures.

2. ¿Por qué eres optimista con este token hoy? Y ¿Cuánto tiempo crees que va a aumentar?

FTT Currently has a Market value ranging between USD 50 and USD 51, with a market capitalization of USD 7 billion and a daily volume of approximately USD 172 million.

It ranks 27th in the Coinmarket cap cryptocurrency ranking and has a maximum supply of 352 million FTT, of which only 137 million is in circulation.

What makes me optimistic about FTT is that it is a coin analogous to what is happening with BNB and the Exchange BINANCE. In order to qualify for the various Exchange options and opportunities, you must obtain it and hold it. This causes its supply to gradually decrease and thus its price to increase.

FTT is a currency that Exchange customers must own, it is highly adoptable. Moreover, as already seen its supply is limited, making it a deflationary currency.

Regarding its potential, and how high it can go, let's simply look at the example of BNB, the one whose price has remained above 300 USD. I personally believe that for a relatively new Exchange, it is on track to match BNB's figures, in fact until not too long ago we saw FTT at over 70 USD.

So it is entirely plausible that we will see FTT between 150 and 200 USD in the medium to long term.

3. Analisis Técnico

I will trade the FTT perpetual futures token which is available on FTX, combining Elliott Waves with chartism, price action, and Fibonacci tools.

On the 5 minute chart, the first thing I can see is a 5 wave bullish impulse, followed by a corrective move that I have yet to decipher but which appears to be a flat wave. Thus, we will be looking for a buy as it is expected that after the correction, the price will resume the bullish phase.

_{Image taken from: ^Source}

To choose an entry point I use Fibonacci retracement to realize the price is close to approaching the 0.618 level, which is one of my favorite levels.

_{Image taken from: ^Source}

Additionally, I want to know how long I can wait for the next impulse to arrive and thus set my Take profit, therefore I use the Fibonacci extension, which level is 100% of the Fibonacci level of 53.82 USD. At the same time, I am considering making a Buy limit entry as I do not want to wait to sit at the screen all day. I set the entry point at 52.27 USD, which is a midpoint within the zone I mentioned in the previous screenshot.

_{Image taken from: ^Source}

I go to my FTX account and place a Buy limit at 52.27 USD with a 1.1 FTT lotaje

_{Image taken from: ^Source}

4. ¿Cuál es tu plan de inversión? ¿Deseas mantenerlo por mucho tiempo? O ¿Cuándo venderlo?

In this case, I expect to perform an Intraday operation. I do not intend to loiter the token, but to sell it when it reaches my expected Take profit.

After executing my buy order, I prepare to set the Stop Loss, which I place it slightly below the beginning of the previous upward momentum (51.71 USD) since by Elliott's law the retracement should not exceed the beginning of the previous momentum.

_{Image taken from: ^Source}

For the Take profit, I will use the measurement taken in the measurement with Fibonacci extension, (53.8 USD).

Here is my exit data (TAKE PROFIT & STOP LOSS) from my FTX Exchange trading.

_{Image taken from: ^Source}

However, although at first glance the trade was going as expected, hours later I realize that unfortunately, the price continued to fall until it took me out of the trade at Stop Loss.

_{Image taken from: ^Source}

This operation according to the lotting I had put in represents a loss of only 0.56 USD. However, I must come to a conclusion about what happened and what went wrong.

The answer is obvious, I performed the Elliot wave count wrong, at first glance perhaps I should have taken the start of the upward momentum much lower, at the 50 USD levels or perhaps at 49.57 USD. This way the expected momentum and pullback would be wider, with a larger stop loss range.

I honestly believe that we are still in a bull market, and that my mistake was not looking for a buy, but that my mistake was identifying the impulses around and the true retracement point of the corrective move.

However, thanks to responsible risk management, the loss was minimal. What can I say, sometimes you win sometimes you don't, tomorrow there will be another chance to recover.

5. ¿Recomienda que todas las personas lo compren? Detalle las razones para recomendarlo o no recomendarlo.

Absolutely, yes. In fact, we are at the best time to buy FTT. This is a project that is destined to become one of the biggest and most important in the crypto world because of the utility it possesses within its own exchange.

Although currently, I believe that it is already relevant, since remember that it is ranked 27th in the crypto ranking. Remember that we are talking about a token that is less than 4 years old.

On the other hand, the amount of possibilities of this token is great, such as the opportunity that by owning it the Exchange FTX provides the opportunity to participate in Token Launches before they appear listed to the public. This allows you to obtain them at a low cost and then sell them once they go public at a much higher price.

There is also the opportunity to receive various benefits within the Exchange with the FTT token.

_{Image taken from: ^Source}

HOWEVER, as always, I must recommend that we should be cautious when investing. Due to the strength and sustained growth of this exchange, I have no doubt that this FTT token will continue to increase in value over the long and medium-term.

Therefore, I do not recommend it if you expect to receive a return in the short term. We must be aware that good projects take time to build up and FTT is no exception.

6. Cualquier otra información importante del token/proyecto.

The following I will talk about seems to me to be a nice fun fact, but at the same time an important factor to keep in mind when considering FTT.

Nowadays the crypto world is starting to become more and more known to the masses, so marketing and advertising of the FTX brand plays an important role. Depending on how well a project team publicizes its token, the value of the token will rise or stagnate.

In the case of FTX, I think they have done a good job, as they have teamed up with famous personalities such as my favorite athlete, The Greatest NFL Quarterback of all time: TOM BRADY, and his Wife.

_{Image taken from: ^Source}

Here we can see another article: https://www.forbes.com/sites/justinbirnbaum/2022/03/17/tom-brady-ftx-and-pitbull-this-weeks-most-interesting-sports-business-stories/?sh=1ac8efa0d844

As you can see, we can not only find the support of the NFL to this Exchange, but also other disciplines such as soccer, tennis, motor racing, etc.

All this support is vital for a project because it gives a good projection to the token, as well as more adoption.