The most important s/r level over the past year has been broken and now being retested.
In addition to the above, there is an inverted H/S pattern & impulse move retracing back to 61%.
I've seen no fundamental narratives to back FET currently, however it seems that this could be near a turning point technically. The levels are very clear & easy to see, and had this been any other asset class, this is a buying opportunity everytime.
Time will tell, key things Ill be waiting for is a bullish engulfing daily candle along with a confirmation of short term trend change on Bitcoin. May is coming up and its highly likely shorts will begin building.
In addition to the above, there is an inverted H/S pattern & impulse move retracing back to 61%.
I've seen no fundamental narratives to back FET currently, however it seems that this could be near a turning point technically. The levels are very clear & easy to see, and had this been any other asset class, this is a buying opportunity everytime.
Time will tell, key things Ill be waiting for is a bullish engulfing daily candle along with a confirmation of short term trend change on Bitcoin. May is coming up and its highly likely shorts will begin building.
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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.