🤖 $FET STILL LOOKS CONSTRUCTIVE
A lot of people are looking at the daily and calling this a head and shoulders.
I’m not.
What I see since the bottom is a change in structure.
We already got higher highs after the low.
And more importantly, we also got higher lows.
That is not what I want to see from a chart that is supposedly about to completely roll over.
For me, a pullback from here would be normal.
The level I’m watching is the 0.618 fib around $0.165.
If $FET pulls back there, holds it, and starts consolidating, that would still look healthy.
In that case, I’d expect price to try attacking the big resistance again around $0.19.
So yes, short term we may see a correction.
But as long as the 0.618 holds, I still think the structure stays constructive.
The real invalidation for this bullish idea is if the pullback comes and price loses that zone cleanly.
Until then, I’m not treating this as a bearish disaster.
I’m treating it as a chart trying to build before another resistance test.
Not a recommendation to buy or sell $FET.
Always do your own research.
A lot of people are looking at the daily and calling this a head and shoulders.
I’m not.
What I see since the bottom is a change in structure.
We already got higher highs after the low.
And more importantly, we also got higher lows.
That is not what I want to see from a chart that is supposedly about to completely roll over.
For me, a pullback from here would be normal.
The level I’m watching is the 0.618 fib around $0.165.
If $FET pulls back there, holds it, and starts consolidating, that would still look healthy.
In that case, I’d expect price to try attacking the big resistance again around $0.19.
So yes, short term we may see a correction.
But as long as the 0.618 holds, I still think the structure stays constructive.
The real invalidation for this bullish idea is if the pullback comes and price loses that zone cleanly.
Until then, I’m not treating this as a bearish disaster.
I’m treating it as a chart trying to build before another resistance test.
Not a recommendation to buy or sell $FET.
Always do your own research.
