🚨 FETCH.AI - Bullish Throwback Price Targets for FET #fetchai #altcoins #fetchai #FETCRYPTO🚨📈

5DayCrypto
4 Mar 202406:27

TLDRChase, a level one CMT and full-time trader, discusses Fetch AI as a top pick, highlighting its potential growth based on Fibonacci extension analysis. He mentions the current price movement, targets at 2618 and 3618 levels, and the possibility of a market cap reaching $1-2 billion. Chase also shares his personal strategy, considering buying at lower levels, and provides a broader perspective on Fetch AI's long-term potential, comparing it to other top cryptocurrencies.

Takeaways

  • 📈 Chase, a level one CMT and full-time trader, discusses Fetch AI as a top pick with potential for growth.
  • 🚀 Fetch AI has shown a significant move up, breaking through the 2618 Fibonacci extension level.
  • 🎯 The next target for Fetch AI is the 3618 level, around the 250 price point.
  • 📊 The EMA 8 is currently just under 160, with less than 10% to reach the next target.
  • 🔄 The script mentions a pattern of consolidation followed by upward moves, suggesting a healthy market behavior.
  • 📉 Despite potential short-term tiredness, the bigger picture remains positive for Fetch AI.
  • 🔍 The 21-week EMA provides a long-term perspective, showing Fetch AI's potential resilience.
  • 📝 The macro scale Fibonacci extension suggests a possible market cap of $1 to $2 billion for Fetch AI.
  • 🌟 A more conservative target for Fetch AI's market cap is set between $3 to $4.5 billion, with a potential 9-10x return from current prices.
  • 🏎️ The 'Car of the Day' segment highlights the 1957 Mercedes 300 SL, which sold for over 2 million USD at an auction.

Q & A

  • What is the speaker's profession and qualification?

    -The speaker, Chase, is a level one CMT (Chartered Market Technician) and a full-time trader.

  • Which cryptocurrency is the focus of the discussion?

    -The focus of the discussion is Fetch AI.

  • What was the price of Fetch AI when it was first mentioned in the discussion?

    -Fetch AI was first mentioned at a price of 19 cents.

  • What is the next target level for Fetch AI according to the Fibonacci extension?

    -The next target level for Fetch AI is the 3618 level, which is around the 250 price point.

  • What is the current price of Fetch AI relative to the EMA 8?

    -As of the current prices, Fetch AI is just under 160, which is less than 10% away from the EMA 8.

  • What is the significance of the 21-week Fibonacci scale for Fetch AI?

    -The 21-week Fibonacci scale is used to assess the long-term trend and potential support levels for Fetch AI.

  • What is the speaker's personal strategy regarding Fetch AI's price movement?

    -The speaker plans to buy Fetch AI if the price drops to the 1618 or 105 level, considering it a good area for investment.

  • What is the potential market cap that the speaker believes Fetch AI could reach?

    -The speaker believes Fetch AI could potentially reach a market cap of 15 to 20 billion dollars.

  • What is the long-term macro scale target for Fetch AI?

    -The long-term macro scale target for Fetch AI is the 3618 level, which corresponds to a potential price of $16.

  • What is the car of the day mentioned in the script?

    -The car of the day mentioned is a 1957 Mercedes 300 SL.

  • What was the auction price for the 1957 Mercedes 300 SL?

    -The auction price for the 1957 Mercedes 300 SL was over 2 million US dollars.

Outlines

00:00

📈 Crypto Market Analysis: Fetch.ai Potential

This paragraph discusses the potential of Fetch.ai (FET) in the cryptocurrency market. The speaker, Chase, a level one CMT and full-time trader, shares his analysis based on Fibonacci extension levels, starting from the swing high in December and the swing low in February. He highlights the recent price movement, noting the breakthrough at the 2618 level and the next target at the 3618 level around 250. The speaker also mentions the importance of the 8-week EMA (Exponential Moving Average) as a support level and discusses the possibility of a price consolidation before a continued upward movement. He emphasizes the significance of market cap and the fundamentals of Fetch.ai, suggesting a potential market cap increase to $1.5 to $2 billion, which could lead to a significant return on investment for investors who enter at the current price level.

05:01

🚗 Car of the Day: 1957 Mercedes-Benz 300SL

In this paragraph, the speaker transitions from cryptocurrency to classic cars, specifically the 1957 Mercedes-Benz 300SL. He shares his experience at an auction event, The Concourse d'Elegance, where the car was sold for over 2 million US dollars. The speaker emphasizes the value retention and appreciation of such classic cars, suggesting they are a good investment for the super-rich as they tend to increase in value over time. The paragraph ends with a brief mention of Chainlink, another cryptocurrency asset.

Mindmap

Keywords

💡Fay crypto

Fay crypto appears to be the name of the platform or channel where the video is hosted. It is likely a space dedicated to discussing cryptocurrency topics, as indicated by the content of the video script which focuses on a specific cryptocurrency, Fetch AI.

💡CMT

CMT stands for Chartered Market Technician, a professional certification for practitioners of technical analysis in finance. In the context of the video, Chase mentions being a level one CMT, indicating his expertise in analyzing financial markets, particularly in the context of trading cryptocurrencies.

💡Fetch AI

Fetch AI is a cryptocurrency mentioned as one of the top picks for a trading run. It is a digital asset that the speaker is analyzing and discussing its potential performance in the market.

💡Fibonacci extension

The Fibonacci extension is a technical analysis tool used to identify potential price targets by extending a previously identified swing high and swing low. In the video, it is used to predict the next price targets for Fetch AI.

💡EMA (Exponential Moving Average)

The Exponential Moving Average (EMA) is a type of moving average that gives more weight to recent prices, thus providing a more responsive indicator of current market trends. In the video, the EMA 8 is mentioned as a level to watch for potential buying opportunities.

💡Market cap

Market capitalization, or market cap, is the total value of all the shares of a publicly traded company or, in the case of cryptocurrencies, the total value of all the coins in circulation. It is calculated by multiplying the current price of the asset by the total number of assets.

💡Volatility

Volatility in financial markets refers to the rate at which the price of an asset changes over time, essentially its tendency to fluctuate. High volatility indicates a market with large price swings, which can present both risk and opportunity for traders.

💡Consolidation

Consolidation in trading refers to a period of price stability or slight movement within a defined range, typically following a significant price movement. It is often seen as a time for the market to 'catch its breath' before the next trend emerges.

💡Macro scale

On a macro scale, analysis focuses on large-scale trends and patterns that can influence the market over a longer period. In the video, this term is used to discuss the broader potential of Fetch AI's market performance.

💡ROI (Return on Investment)

Return on Investment (ROI) is a financial metric used to measure the probability of gaining a return from an investment. It is calculated by comparing the gain or loss from an investment relative to its cost.

💡Top 20 coins

Referring to the top 20 coins in the cryptocurrency market, this term implies the most valuable or widely traded digital assets. The speaker uses this term to contextualize the potential market cap of Fetch AI within the broader crypto ecosystem.

Highlights

Chase, a level one CMT and full-time trader, discusses Fetch AI as a top pick.

Fetch AI has been mentioned since it was at 19 cents.

Private alerts group is available for subscribers on Patreon.

Fibonacci extension analysis is being used for Fetch AI's price movement.

The next target for Fetch AI is the 3618 level at around $2.50.

The EMA 8 is currently just under $1.60, with less than 10% to go.

Volatility and signs of exhaustion are seen as positive indicators.

A potential downside scenario is discussed, but the bigger picture is not lost.

The 21-week EMA is a key level to watch for potential buying opportunities.

The first target to watch is $1.17 if the price is above the 8-week EMA.

The next short-term target is $2.58, and then $3.41 on a larger scale.

On the macro scale, the price could potentially reach $16, with a market cap of $15-20 billion.

Fetch AI's fundamentals are strong, and it could potentially reach a $2 billion market cap.

The transcript also includes a discussion on the car of the day, a 1957 Mercedes 300 SL.

The car auctioned for over $2 million, showcasing the value of such vehicles.