FETBTC forming bullish Shark | Upto 168% move aheadPriceline of World's 117th ranked cryptocurrency out of more than 2300 cryptocurrencies Fetch.ai (FET) with Bitcoin pair is forming bullish Shark pattern and soon it will be entered in potential reversal zone and will be ready for bullish reversal soon.
This potential reversal zone should be used as stop loss in case of complete candle stick closes below this zone.
Let’s have a look on the dimensions of FET price action's moves:
After inertial leg (X to A) the A to B leg is retraced between 0.382 to 0.618 Fibonacci and then B to C leg is projected between 1.13 to 1.618 of A to B leg's Fibonacci projection and final (C to D) leg is suppose to be retraced between 0.886 to 1.13 Fibonacci for a perfect bullish Shark and then the price action will be entered in potential reversal zone of this bullish Shark pattern, then we can expect bullish divergence at any time which will lead the priceline between 0.382 to 0.786 Fibonacci projection of C to D leg, but after this bullish divergence if the candles sticks will be closed above 0.786 Fibonacci levels then it can also lead to the long term bullish move.
As per Fibonacci sequence method we can set our targets as below for mid term trade:
Buy between: 0.00000431 to 0.00000305 sats
Sell between: 0.00000555 to 0.00000820 sats
So this trade has potential to produce upto 168% massive bullish move.
Regards,
Atif Akbar (moon333)
The harmonic moves analysis involves hours of hard work and determination however the success of harmonic trading in fiat and cryptocurrencies is around 80% therefore it is always important that you follow any stop loss strategy while trading harmonic patterns I have also shared a stop loss idea in this article, the information in this article is for educational purpose only this is not intended to be investment advice, I have tried my best to catch the harmonic moves as per predefined classical harmonic bullish Shark pattern if you find any flaw or you have any suggestion feel free to share with me in comments section.
FETBTC
FET/BTC TA Update (Testing Key Fib Support)FET/BTC
FET has failed to hold the golden Fib level at 600 sats areas and now the price is testing the key support between 500 sats regions or the last Fib 0.786.
If FET can't get above this downward trend-line of support in the coming days, I expect 1 more leg down to retest the Swing Low at 470 sats area
before re attempting to break the down-line resistance or potentially change the trend.
FET/BTC ANALYSISFET/BTC
FET topped out as is recently hit the daily resistance block and 200 MA. There was a strong rejection and the retrace is bringing FET back down towards support. On the bright side, FET is in a falling wedge that SHOULD end right near the support zone. This is prime for a long position entry and push OUTSIDE of the wedge back up towards T1 at 600 sats. Followed shortly after are the previous highs at T2 of 660 sats. Lastly, the 200 MA at 740 sats is the final exit point. Last time FET hit 200 MA there was a strong rejection, im expecting the same until a major bull market comes into play. Exit accordingly, and also wait for the prime entry.
Possible Entries: 470-520 sats
FET/BTC TA Update (Bounce at key Support?)FET/BTC
FET is on a deep pullback after breaking support at 650 sats area. The price has reached important key support and golden Fib 0.618. Can we expect a bounce from this key zone?
If only FET can maintain this level for at least 48 hours, there will be a high probability of a pump will occur because the bears have failed to bring the price lower.
FET/BTC dancing between fibs Last days/weeks we can see FET price moving between horizontal levels, if we measure last bigger move, we can see that price accumulating between fibs. if this will play once again, we can scalp on this altcoin 10-20% with SL around 5% down.
Also RSI on H1 tf looking bullish.
FET/BTC TA Update (Bounce at Golden Support Area?)FET/BTC
FET is on a deep pullback and it's in the range of 0.5 - 0.618 Fib support area. If price can hold this level for the next 7 days,
I expect a bounce will take place as the 50 Day MA plus the ascending trend-line support will give an extra boost to make the trend rising again.
FET/BTC Daily Analysis - 48% Move UpHey traders, looking at FETCH.AI coin today trading on Binance.
If you're in my Telegram group, you would've known to take profits at this 1st sell target area of 762 sats, now targeting 1134 for an additional 50% move up.
Right now we're having heavy resistance at the 762 sat level, but we'll get through the turbulence. Anything under the 1st sell target is a great buy, and you can even zoom into a smaller time frame than the 12H to find quick hourly moves.
Buy @ 762 sats or lower
Sell @ 1134 sats
As always please do your own research, I am not a financial advisor.
FET/BTC TA Update (Break 200 Day MA or Pullback?)FET/BTC
FET is currently struggling to break above the 200 Day MA and previous support turning into new resistance.
Bearish RSI divergence is also adding stress for the price to move up further. If FET will unable to break this resistance within 24-48hrs,
We could expect the price to pull back into the support area to accumulate more buyers to step in.
$ENJ lower TF: RSI & MACD divergence, falling wedge at support.if $ENJ doesn't hold here we could see 1080-1050, but I think a 12-15% bounce here is more likely. Looks very similar to $fet's retest of lower TF support and that ended up bouncing 20%+ ...Lower TF: RSI & MACD divergence, falling wedge at support.