Why FET/USD looks like ETH/BTC ??

٢١ نوفمبر ٢٠٢٤

noticed this this morning maybe there is a very simple explication, feel free to share it,

I'm not a pro charter so I'll not be able to put the pic of ETH/BTC directly on the chart but here is it

timeframes are different but there remains proportionals
it's a pattern that consists in :
- a vertical move (early 2024 for FET, early 2016 for ETH)
- a distribution that bring us to a higher low from before that vertical move (Low for FET was 6 august 2024, for ETH/BTC early September 2019)
- a move up that create a inverse H&S, that distribution is the left leg
- another distribution from that previous move that finished this month for both pairs, yesterday was THE low for ETH/BTC if my whole idea is working, it was a local low for FET/USD but this one touched the channel where FET is evolving + it's a 0.5 fib retracement from previous move up



TP 15???¿

٣٠ نوفمبر ٢٠٢٤

ملاحظة

for now I think you can consider next target is 3.5 if we break 1.86 (but we need to break it)

٢٣ ديسمبر ٢٠٢٤

ملاحظة

(yes its still in play despite the fact I got a bit surprised there)

٥ يناير

ملاحظة

As said 2 weeks ago, its still in play, the channel was made a bit fast and is not 100% accurate,
lower trendline is supposed to touch low from 5 august and pass across lows from next week,

sorry for this ambiguity

١٣ يناير

ملاحظة

the idea is invalid even tho im still bullish