FETCH analysis FETUSDAn idea for Fetch.ai
Scenario one suggests continuation of the uptrend channel even though the price is below the 200MA which is the differentiating factor between the last two moves up after Fibonacci transition
I find the scenario the optimistic one, and the bull one I am rooting for
Scenario two suggests 3.618 of the uptrend, acts as resistance, along with the 200MA, rejecting the price and forming a subtle double top (orange oval)
This is the bear scenario
When scouting for projects like this don't look for small trades like this, look for long term potential. And projects you want to be surrounded by. This is simply just an observation and to give a kick for the bulls and bears, whichever you favor for the coin (I assume mostly bulls)
Fetchaibtc
50% FETCH.AI GAIN POTENTIAL - Wyckoff Accumulation. Here I have drawn what I believe to be the potential Phase E wave on the Wyckoff accumulation phase of Fetch.AI
FOr those of you have been following along with us for the last year, you will remember that we saw CELR and ONE all move in similarity, which you can go check yourself now if you would like. It is uncanny. It appears one of the whales is back and has been taking their time accumulating.
I am not great at the Wyckoff analysis as it is new to me, so if anyone else has an insight to this analysis please do not hesitate to share.
Our Entry now has a position just above the phase D accumulation area, with a stop loss around 10% below that, AS this play continues I will ladder in, for now, this is a small play looking at a potential of 50% gains.
Here is some more information on these accumulation periods and what to look for.
school.stockcharts.com
BINANCE:FETBTC
FET/BTCFET seeing a notable volume increase upon breaking old resistance at 430. This level should now act as support while resistance remains around the 500 SAT region. Many Oscillators have also crossed bullish on multiple time frames, suggesting some continued upside for the short term. As always, sell equal amounts at targets and adjust your stop losses to a "take-profit" stop as the trade progress's