-111% long position, still holding 😟😔

$FET


Here's a strongly bearish outlook versus a bullish outlook for FET.

I noticed the recent price trend looks eerily similar to a previous pattern for this coin that played out with a major correction and consolidation that lasted months, before any strong upside. This, of course would mean a much greater and quite severe correction in the overall crypto market that would drag FET price down significantly (80%). The macro and crypto environment although slightly bearish in the very short-term does not signal any doom and gloom scenarios right now, but you never know what's around the corner.

On the flip side, there is an ascending channel that could mark the bottom at around current price levels for FET and may likely yield 80% returns. However this bullish channel is being broken currently. Time will tell where these daily candles will finish.

Currently the trend for FET and the broader crypto market is unclear so it's best to stand by and see how this plays out.
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👉Keep an eye on the charts and your portfolio, and remember: DYOR -Crypto is always changing, so stay informed before jumping in! 🚀💸