$FET crypto
Chart request ๐
$FET failed to reclaim the middle of the channel with an engulfing bearish candle.
Down we go to my next line at $0.16.
Red dot ๐ด
From here 2 scenarios
A) we could form a higher low .
B) we go dipper to form a double bottom for a W reversal pattern.
Either way the bottom is close.
Study bottoms:
Looking back at 2023 the best entry is clearly the blue circle with a stage 2 breakout with volume.
Look at this amazing Neon green candle.
2nd best entry is the green circle after the breakout of the mid channel and the retest of the 20MA
When the 20MA start to form a round bottom we enter stage 1 ( basing )
Stages :
Daily just started stage 1
Weekly stage 4 ( downtrend)
Monthly stage 4
We need a bigger base , we need to reject the high of the channel at least once more and we need to loose the red dot on the upper side of the channel.
In my opinion the stage 2 breakout wonโt happen before end of Q3.
NFA/DYOR
@danmatern kein ai agent aber eventuell weiterer degen play. wollte es mit dir im stream teilen bevor es davon zieht. chart sieht gut aus, projekt an sich meiner meinung nach auch ein paar mio marketcap drin und stetige entwicklung. hoffentlich bis bald im stream!
https://t.co/SNQAe0hjtD