Playing Fetch For a 24-40%+ Reversal Swing Trade - Falling wedge structure with a 261.8% downside support.
- Hourly and 4 hour are showing Bullish Divergence
- Double bottom on price structure with a small breakout and retest of the falling wedge resistance turned support.
- Higher risk trade due to newer listing.
FETBTC
This time we took a position in FET/BTC! Hello crypto traders,
We are back with an update on Fetchai! Our stoploss got hit on Saturday so we concluded that something was wrong with our idea. We decided to wait until we saw better opportunities. We really think that this is the moment of truth for Fetchai!
This crypto asset declined eventually in a nice ABC zigzag pattern. It's pretty common that a second wave/B-wave retraces 78.6%/85.4% from wave one/A-wave. So that's the case here.
Another good indicator is that we can see Bullish divergence which means that we will see a bounce in the near future (if it holds ofc).
Breaking below 0.00008288 BTC would be problematic for the long term because wave 2 can't retrace more than 100% of wave 1! So keep an eye on that!
ENTER: 0.00008899 FET/BTC
STOP: 0.00008288 FET/BTC
FET at an important point of decision. Possible break up to ATHThe last 24h have proven itself with high volume and high volatility. We got several indications of FET trading within a symmetrical triangle at the time of writing. We are currently resting on the bottom trend awaiting a bounce, or a break down.
I am not going to point out exact targets yet, but a break up from the triangle will probably push FET to about 15000sats, above the ATH from yesterday.
A break down to the downside will make us test the zone at 9700sats. I will come back with more detailed analysis with targets once FET have chosen direction!
Fetch.AI (FETBTC) New Binance AddFetch.AI (FETBTC) is new so there is no data on the chart.
What you can see here is the support and resistance levels marked. Based on the candlesticks closing, we can know FETBTCs trajectory.
Fetch.AI (FET) Overview
Fetch is a decentralised digital representation of the world in which autonomous software
agents perform useful economic work. This means that they can perform tasks, such as delivering
data or providing services, and are rewarded with a digital currency for their efforts — the Fetch Token.
These agents can be thought of as digital entities: life-forms that are able to make decisions on their own
behalf as well as on behalf of their stakeholders (individuals, private enterprises and governments for
example). Fetch's digital world is exposed to agents via its Open Economic Framework (OEF) and is
underpinned by unique smart ledger technology to deliver high performance, low cost transactions. The
ledger delivers useful proof-of-work that builds market intelligence and trust over time — growing the
value of the network as it is used. Fetch can be neatly interfaced to existing systems with minimal
effort, allowing it to take advantage of the old economy whilst building the new: plug existing data in to
Fetch and watch markets spontaneously form from the bottom up.
What's your take on Fetch.AI?
Where you think is headed next?
What's your opinion about this new cryptocurrency project?
Please share your thoughts in the comments section below.
All information is welcomed.
Namaste.
FET [Fetch.ai] Another Overpriced Scam-ICOIt is what it is!
ICO price was like 0.000022 BTC which is 0.0867 USD or 0.00858 BNB.
And what now?! You can see Price is just 5 times bigger than ICO price!!!
They will take their profits very soon!
I expect price drop over next few weeks, for like a 50% down move. Be careful here and manage your risks in any situation. Chances to go up is small like a 1/10 that it will go up...
On 5min chart we can see bearish divergence in price and RSI.
Good luck and have fun!