FetchAI | Final Wave?I know. There are not any bearish signals; the chart is super bullish; it is going up.
But... The force of the final move, a massive jump from 5-Feb. through 21-Feb. has final wave potential.
If we look at FETUSDT past action or any bullish action across hundreds of Altcoins, the growth is always gradual. There are moments when the force is strong and these moments mark the end of an impulse.
The last two weeks consist of parabolic growth, basically and yet trading volume is lower compared to November and December 2023. There is a bearish divergence with the RSI.
Lower volume as FETUSDT hits a new high, signals that the bullish trend is losing strength.
I have to admit it, I don't know if this is the peak nor expect it to be; I drew the arrow though on the chart.
Peak or not peak, caution is advised at this point.
If I were a FetchAI holder, I would be looking at the option of taking profits because the best time to take profits is on the way up.
There are two ways to take profits: (1) On strength (moving up as is happening now) or (2) on weakness (when the top is confirmed and reversals signals are clear).
I hope you find this information useful.
Namaste.
