Fetch.AI / TetherUSShort
Is FET crash imminent?
Updated
Intro:
Most technical indicators are bearish on BTC in the short-mid-term. This got me thinking that the rebound of some of the alt-coins. When I look at FET, I personally think that it is a little too high, relative to where BTC is.
This is mainly a warning to investors looking to accumulate into FET for the first time at these prices:
Short analysis:
When looking at BTC on the 4H timeframe with the White Noise indicator using an RSI (100 length) as a source, I see that the momentum is still negative. I also looks like we broke a critical support level that we just retested. This could mean we go slightly lower, maybe to visit 52.6K.
When looking at FET on its BTC pair, I see that we could see an expansion if BTC's price remains stable at these levels.
I'd love to hear your thoughts
I've made the White Noise indicator free for everyone on TradingView. Linked below!
Most technical indicators are bearish on BTC in the short-mid-term. This got me thinking that the rebound of some of the alt-coins. When I look at FET, I personally think that it is a little too high, relative to where BTC is.
This is mainly a warning to investors looking to accumulate into FET for the first time at these prices:
Short analysis:
When looking at BTC on the 4H timeframe with the White Noise indicator using an RSI (100 length) as a source, I see that the momentum is still negative. I also looks like we broke a critical support level that we just retested. This could mean we go slightly lower, maybe to visit 52.6K.
When looking at FET on its BTC pair, I see that we could see an expansion if BTC's price remains stable at these levels.
I'd love to hear your thoughts
I've made the White Noise indicator free for everyone on TradingView. Linked below!
Note
It failed to bounce off. Seems we go lower if it retests the line as resistance and fails!
Note
Leg down started, could see a re-test still.
Note
Down 30+% since this post. I hope it saved you some money. Enjoy the cheaper prices.Note
FET is down 48% from when this idea was postedTrade closed: target reached
Went way better than expected - closed a long time ago...
Perhaps it's time for another idea on FET in this new market environment?
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t.me/ikkeomarfree
I can also pass funded accounts for you!
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Just dm my Telegram @IkkeOmar
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