Looking at the FET Daily chart it has undoubtfully been a big mover with very impulsive directional moves followed by massive sideways accumulation/distribution zones.
Bear Market low to current cycle high is nearly 1500%. An asset is never so high it can not go higher and never so low it can not go lower. Impulsive price rise is a sign of support and strength and FET has certainly had it.
The equally sized green boxes are the repeating average range of approximately 50% each at its extremes.
Looking at current price action and the overall crypto market a larger move to the downside is highly probable before pushing higher.
If we apply the 50% range to our current high it is correlating very nicely with the upward macro trend line, previous support, and aligning very nicely with the 50-62.5% golden pocket retrace level.
Current Trading plan is to wait, wait, and probably wait more until price shows clear signs of accumulation likely in the 40-.50 area with hopeful brake out in April/May. Hopefully produces another directional move to the upside with the all time high as a clear and obvious target 3x higher
Trade Well....
Bear Market low to current cycle high is nearly 1500%. An asset is never so high it can not go higher and never so low it can not go lower. Impulsive price rise is a sign of support and strength and FET has certainly had it.
The equally sized green boxes are the repeating average range of approximately 50% each at its extremes.
Looking at current price action and the overall crypto market a larger move to the downside is highly probable before pushing higher.
If we apply the 50% range to our current high it is correlating very nicely with the upward macro trend line, previous support, and aligning very nicely with the 50-62.5% golden pocket retrace level.
Current Trading plan is to wait, wait, and probably wait more until price shows clear signs of accumulation likely in the 40-.50 area with hopeful brake out in April/May. Hopefully produces another directional move to the upside with the all time high as a clear and obvious target 3x higher
Trade Well....