#FET'S RECENT DECLINE MADE US EARN 28.62% + 3.93% OF PROFIT: HERE'S HOW
The latest FET rejection that happened has made us earn 32.55% within 11 days. We have recently identified the possible retest of the previous week's middle price. As this has went below the middle price, we were also able to take note of the following:
- FET's price has moved just below the month of June's low which was at 1.05. From there, more demands have presented themselves making FET bounce from below the middle weekly price to above its middle weekly price.
- Enough momentum would suffice the need of FET to close another 6%-13% increase from just below its middle price. Although, with a strong momentum, it could potentially lead to more than 20%-23% increase from there.
- More traders are still awaiting sell orders at 1.32-1.79, hence, it will be tough to break it immediately without any retest for better support points.
- Since the 0.72 key level was already touched. FET still needs to test 1.54-1.71 to ensure these levels will hold the price of FET off before taking flight.
- All other factors will present themselves once we've confirmed other price actions of FET.
#RUNE PROFIT OF 15.16%, 10.25% & 20.88% JUST BY UNDERSTANDING ITS SHORT-TERM MARKET STRUCTURE
We have identified the short-term market structure of RUNE and it has provided us with gains that most would have a hard time to earn within a market structure like this!
Here's how we have outlined the plan.
In its current market structure, RUNE looks like its about to conduct a distribution phase which most would think highly probable of. However, we have also identified the different scenario. In this scenario, we have verified the new support that was established by RUNE on top of its previous major resistance at 2.42-3.4. Hence, we were able to find out that the tendency for this token to continue ranging between 2.8-4.6 with 2.8 being the 'in-between' of the previous major resistance and 4.6 as the resistance currently being tested. The best thing about knowing these factors is the fact that we can enter short and long trades confidently just below the current resistance and above the start of the previous resistance. That's how easy it was to identify its current short-term market structure. For its long-term market structure, we have identified 3 possible point of bounces at 2.331, 1.987 & 1.621. Right now, we're at one of these points. The 2.331 point is one where most would anticipate a sudden major bounce and major breakout. Although, we can't say for sure since it would be way too obvious if it will just happen right here. So, the better options would be 1.621 and 1.987 where many would await for another retest of RUNE and many demands will be met. Overall conditions would be met by then once RUNE reattempts the resistance at 4.6-4.8. In the event it would look like it was broken, most likely, it will be met by waves of sell orders at 5.4-7.0 where the last wave would only have 37.15% chance to be hit since a strong decline may happen from there leading to the points of bounces we've highlighted. Any other scenarios would likely occur but we can still react to those scenarios with these outlines we've done for various factors consisting RUNE's market structure.
These posts are for educational purposes. To guide the people who might still be struggling within the crypto market, those who are new to the environment and volatility and everyone else who needs it.
Stay wise, trade cautiously.
