Alikze »» FET | Bearish Flag
🔍 Technical analysis: Bearish Flag
- In the analysis presented in the weekly Time, after a corrective trend up to the major ceiling area, it encountered demand, which led to a growth of more than 80%.
- Currently, in the 4H time frame in an ascending channel, in the middle area of the channel, as you can see in the chart, a bearish flag has been formed.
- Therefore, due to the failure of the supply zone, which is also recorded as a rejection candle, it can have a correction to the origin of movement after exiting the short-term ascending channel or the flag as high as the previous leg.
💎 Alternative scenario: In addition, if it can stabilize above the supply zone, the bearish flag pattern will be invalidated and it can continue up to the top of the growth channel.
🛑 Resistance: 1.172
🟢 Support: 0.78
»»»«««»»»«««»»»«««
Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future.
Thanks for your continued support.
Best Regards,❤️
Alikze.
»»»«««»»»«««»»»«««
FETUSDT
- In the analysis presented in the weekly Time, after a corrective trend up to the major ceiling area, it encountered demand, which led to a growth of more than 80%.
- Currently, in the 4H time frame in an ascending channel, in the middle area of the channel, as you can see in the chart, a bearish flag has been formed.
- Therefore, due to the failure of the supply zone, which is also recorded as a rejection candle, it can have a correction to the origin of movement after exiting the short-term ascending channel or the flag as high as the previous leg.
💎 Alternative scenario: In addition, if it can stabilize above the supply zone, the bearish flag pattern will be invalidated and it can continue up to the top of the growth channel.
🛑 Resistance: 1.172
🟢 Support: 0.78
»»»«««»»»«««»»»«««
Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future.
Thanks for your continued support.
Best Regards,❤️
Alikze.
»»»«««»»»«««»»»«««
FETUSDT Note
In the predicted scenario, the previous leg-sized flag, which was a zigzag correction in the form of a 4-wave correction, has ended around the bottom of the channel. Currently, due to the fact that it is above the 1.17 range, the rising leg 5 can grow as much as the previous wave. But considering that it has a channelized behavior, it can continue its growth at least up to the ceiling of the channel. But if wave 5 does not have the ability to break wave 3 and grow as much as the previous wave. It can form a double ceiling and then enter the correction wave of 2 correction cycles. If the behavior and structure of the post changes, it will be updated. Note
According to the predicted movement path, after the failure of the region and Polback to the structure of more than 12% growth, which was within the limit of the previous ceiling, it faced selling pressure. After that, he made a correction to the middle of the channel, after which he faced demand. Note
According to the predicted movement path, after the pullback to the broken structure, it broke the previous ceiling and is moving towards the target of the supply range. So far, it has grown by more than 27%. Note
According to the predicted movement scenario, after breaking the previous ceiling, it has managed to grow up to the supply area. Currently, the supply area is facing sales pressure.
If it cannot break this area, it can have a short-term correction at least up to the ceiling of channel one, which is also in the middle of the ascending channel.
In addition, in case of failure of the supply zone, it can continue its growth up to the limit of the channel and then enter into correction.
Note
According to the predicted movement path, after touching the range of the supply area, it has faced supply pressure, which has been corrected by more than 18%. It is currently at the previous major ceiling, which if the candle closes below the area, The modification will continue until the green box.
Note
According to the latest update, the green box range has been touched. 
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.