FETUSDT
FET, time to shine?Hello traders,
Yesterday we talked about the possibility that FETUSDT could retrace after it soared 20%. We forecasted a classic A-B-C zigzag pattern that usually halts around the 61.8% Fibonacci level but we retraced slightly different this time!
FET retraced in a horizontal triangle that consists of five sub-waves that form a 3-3-3-3-3 structure labeled as A-B-C-D-E. Unlike the motive wave, which also has five waves, this pattern reflects a balance of forces and travels in a sideways pattern. The sub-waves are corrective and form patterns of threes.
We can count five sub-waves on a smaller timeframe so we think that this could be a buy opportunity for a short term trade with a nice upside potential. But first we need some confirmation by breaking through that upper trendline!
Stop: 0.3551
Target: 0.41-0.42
Goodluck!
FET [Fetch.ai] Another Overpriced Scam-ICOIt is what it is!
ICO price was like 0.000022 BTC which is 0.0867 USD or 0.00858 BNB.
And what now?! You can see Price is just 5 times bigger than ICO price!!!
They will take their profits very soon!
I expect price drop over next few weeks, for like a 50% down move. Be careful here and manage your risks in any situation. Chances to go up is small like a 1/10 that it will go up...
On 5min chart we can see bearish divergence in price and RSI.
Good luck and have fun!
FET/USDT looks ready to retrace!Hello cryptotraders,
We can't publish ideas on 1 min charts so we are doing it on the 15 min. We can count a clean 5 wave upward pattern on FET/USDT with bearish divergence on the 1minute chart. This means that FET will retrace in an ABC structure from here on.
A retrace like that usually stops at the 61.8% fibonacci level so keep an eye on that! We will keep you posted when it happens because we are eyeballing this coin for a short term long trade
Happy hunting!
