alanmasters

Fetch.AI Breaks Falling Wedge | Bullish View Mapped + Targets

BINANCE:FETBTC   Fetch.AI / Bitcoin
Fetch.AI ( FETBTC ) just broke out of a falling wedge and is now trading above EMA10... We are looking at the bullish scenario here.

Prices for FETBTC peaked in early December, a strong correction followed and after a higher low the 0.786 Fib. retracement support for the last bullish wave has been conquered.

Now let's take a look a the MACD:
Here we have a bullish cross and the histogram now going green.

The RSI is also trending up:
Conditions for change
The above signals look pretty good but there isn't enough volume ... Charts are always changing and all scenarios remain possible at all times. If prices for FETBTC go lower and close below 0.00000430, the above bullish scenario becomes invalid and a new analysis is needed. Going below the above level would turn this chart bearish .

Thanks a lot for reading.

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