FET Re-Accumulation Time?
It has been a while since taking any serious interest in crypto as things cool off.
Enough time, enough discount, new interest...
This is a weekly line chart of FET. Looking at the price action there has already been a typical but always hated 50% pull back to the lows.
This 50% pull back magically aligns with its last major broken resistance for a hopefull support resistance flip.
Looking at momentum and the curvature of the price action we can see it has reach max velocity in time for percentage of value loss. This is the point where we typically see a reveral. The culmination of the curve.
Measuring rate of change in our typical 15degree intervals we can see we are also ina time area for a typical reversal.
Momentum oscillator on the weekly is also in the seriously over sold area with momentum slightly just begining to shift to the upside.
Trading Plan: These are "signals" of a high probability buying oppertunity for at least a relief rally. There is a loss of momentum at critical support. Current plan is to DCA as price action confirms allowing to accomodate one more potential serious price drop. There is certainly room for another drop and would create an even better buying oppertunity BUT the current price is equally likely to hold as support.
Enough time, enough discount, new interest...
This is a weekly line chart of FET. Looking at the price action there has already been a typical but always hated 50% pull back to the lows.
This 50% pull back magically aligns with its last major broken resistance for a hopefull support resistance flip.
Looking at momentum and the curvature of the price action we can see it has reach max velocity in time for percentage of value loss. This is the point where we typically see a reveral. The culmination of the curve.
Measuring rate of change in our typical 15degree intervals we can see we are also ina time area for a typical reversal.
Momentum oscillator on the weekly is also in the seriously over sold area with momentum slightly just begining to shift to the upside.
Trading Plan: These are "signals" of a high probability buying oppertunity for at least a relief rally. There is a loss of momentum at critical support. Current plan is to DCA as price action confirms allowing to accomodate one more potential serious price drop. There is certainly room for another drop and would create an even better buying oppertunity BUT the current price is equally likely to hold as support.
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