$FET ๐ FET/USDT - Bearish Trend Confirmation or Potential Fakeout? ๐ฅ
๐ Market Overview (2H Chart Analysis)
๐ฐ Current Price: $0.768 ๐
๐ Pattern Formed: Diverging Triangle
๐ Resistance Levels: $0.775 - $0.789
๐ Support Levels: $0.750 - $0.740
โณ Expected Trade Duration: 4H - 12H
๐ Technical Indicators & Chart Pattern Analysis:
โ
RSI (46.23) - Neutral, slightly bearish momentum
โ
DMI/ADX: Bears gaining control ๐
โ
Volume Analysis: Decreasing, showing weak buying pressure
๐ View According to Chart Pattern Analysis:
The Diverging Triangle suggests an indecisive trend with higher volatility.
Breakout Direction:
If price closes below $0.750, it will confirm a bearish breakout ๐.
If price breaks above $0.780, then a bullish reversal is possible ๐.
๐ Final Trend Signal: Bearish ๐ (Downtrend Continuation Expected)
๐ Trade Setup & Key Levels ๐ฏ
๐ Bearish Scenario - Short Setup:
Entry Price: $0.770 - $0.780
Stop Loss: $0.790 (Above resistance)
Take Profit 1: $0.755 ๐ฐ
Take Profit 2: $0.740 ๐ฅ
Take Profit 3: $0.720 ๐
โ
Risk-Reward Ratio: 1:2+ (Safe trade setup)
๐ Bullish Scenario - Long Setup (If Trend Reverses):
Entry Price: $0.750 - $0.755 (If support holds & price rebounds)
Stop Loss: $0.740
Target 1: $0.780
Target 2: $0.800
๐ข Final Thoughts (Based on Pattern Analysis):
โ
Bearish bias remains strong unless $0.775 is broken ๐
โ
Break below $0.750 confirms further downside ๐
โ
Fakeout possible if price regains $0.780 support
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๐จ Disclaimer: This is not financial advice. Trade at your own risk! ๐จ
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