An Epic Bounce and New High Coming...

Sep 20, 2021

We are retesting our previous strong weekly resistance for the preceding two run ups. If we hold it as support an epic bounce and, potentially, new local high will follow. Also, noteworthy, is our cross of the weekly EMA ribbon (FET/BTC) for the first time ever. Calm down, zoom out, and be ready FET is about to soar!

Sep 20, 2021

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Interesting too, check out every preceding run up looking through the lens of our weekly stochastic RSI. In every instance we were at the 100 level for 63 days or over. Roughly, 63 days in the first instance; 84 days in the second instance; and 63 days in the third instance (depending on where exactly you measure your move from). In the present move, we were only there 14-21 days (depending on your measurements). To me, this signals the high probability of yet another wave up.

Sep 20, 2021

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Sep 20, 2021

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Finally, take a gander at the daily stochastic RSI. We are near bottomed out and looing toward a bullish crossover.

Sep 23, 2021

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That weekly candle is looking better and better.

Sep 30, 2021

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Pretty significant monthly close inbound. Some have expressed concern over the USDT pairing showing a potential bearish leaning doji candle and while I agree it is not the best looking candle it does not meet the criteria of a gravestone doji. Also, I believe the FET/BTC monthly candle is a better indicator of price action and that shows us, potentially (as of right now), closing above a very significant monthly level for the first time since June 2019.

Sep 30, 2021

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FET/USDT Monthly candle aforementioned. Note, also, that there is still time left in the day and if we close above that horizontal blue line it would be rather bullish leaning.

Sep 30, 2021

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Finally, I want to draw your attention to a significant weekly structure. That ascending green trendline. Should we close above it we should be leaning rather bullish as well.