FET DAILY ANALYSIS - FETCH AI FET PRICE PREDICTION - FETCH AI FET 2024 - FETCH AI ANALYSIS
TLDRIn this video, Coins Kid discusses the importance of joining the Discord for altcoin trading signals and insights. He highlights a successful trade with Fet, predicting a 1,000% increase to $249, which was achieved. The video delves into technical analysis, focusing on the weekly timeframe for Fet, looking for potential bearish divergences and blowoff tops. Coins Kid emphasizes the significance of optimal entry points and the potential for greater returns in altcoins compared to Bitcoin. He also provides a detailed analysis of the Fibonacci retracement levels and potential future price movements, suggesting a target of around $12 and a bounce at the 1.618 Fibonacci level. The video concludes with an invitation to join the Discord for more technical analysis and trading opportunities.
Takeaways
- 👋 The speaker, Coins Kid, emphasizes the importance of joining the Discord for altcoin opportunities and updates.
- 📈 He discusses a successful trade with FET (Fetch.ai), predicting a 1,000% increase to $249, which was achieved.
- 🎯 Coins Kid highlights the use of technical analysis, such as trend lines and RSI, to identify optimal entry and exit points.
- 📊 The speaker is currently looking for a blowoff top in the FET chart, suggesting a potential market reversal.
- 🚀 He mentions that altcoins can offer greater returns than Bitcoin, as evidenced by FET's performance.
- 📉 Coins Kid is cautious about the risk of big green candles maturing, which could lead to significant red candles (price drops).
- 🔍 He uses candle bodies to identify bullish and bearish divergences, which are crucial for his trading strategy.
- 📝 The speaker provides a detailed analysis of the FET chart, including potential targets and Fibonacci retracement levels.
- 🔄 Coins Kid discusses the ABC correction pattern and how it relates to the current market conditions.
- 📌 He suggests that if FET experiences a correction, the 1.618 Fibonacci level could be a target for a bounce.
- 📝 The speaker encourages viewers to stay tuned for more updates and to join the Discord for additional technical analysis and content.
Q & A
What is the main reason Coins Kid emphasizes joining the Discord?
-Coins Kid emphasizes joining the Discord because he posts many altcoin setups and trade signals there, which are beneficial for staying informed about potential investment opportunities.
When did Coins Kid first post about FET (Fetch.ai)?
-Coins Kid first posted about FET around July 13th of the previous year, highlighting it as a potential part of the next hype cycle.
What was the initial target price for FET mentioned in the script?
-The initial target price for FET mentioned was $2.49, which was based on a 1,000% increase from the buyback zone at 18 cents.
What technical analysis method did Coins Kid use to identify a potential top for FET?
-Coins Kid used the method of looking for a bearish divergence in the RSI and price action, as well as analyzing the candle bodies for signs of potential reversal.
What is the significance of the 1.618 Fibonacci retracement level for FET?
-The 1.618 Fibonacci retracement level is significant because it represents a potential resistance level or a point where the price may experience a correction or reversal. In the script, it is mentioned as a potential target for FET's price movement.
How does Coins Kid determine the optimal entry point for a trade?
-Coins Kid determines the optimal entry point by analyzing chart patterns, looking for sweet spots, and identifying impulsive moves. He also considers the risk-reward ratio and the potential for significant price movements.
What is the importance of the five-wave pattern in Coins Kid's analysis?
-The five-wave pattern is important in Coins Kid's analysis as it represents a potential impulsive move in the market. He is looking for a blowoff top, which could indicate the end of a significant price move before a correction or reversal.
What does Coins Kid suggest about the potential future of altcoins compared to Bitcoin?
-Coins Kid suggests that altcoins have the potential to outperform Bitcoin in terms of returns. He believes that altcoins can offer more significant opportunities for profit due to their volatility and potential for large price movements.
What is the strategy Coins Kid suggests for trading FET after a potential top is identified?
-After identifying a potential top, Coins Kid suggests waiting for more data in the charts to confirm the bearish divergence. Once confirmed, he would then consider exiting the position. If a correction occurs, he would watch for interest in the 1.618 Fibonacci retracement level for a potential bounce.
What does Coins Kid mean by 'buying the big green candles' and 'getting big red dildos'?
-This phrase refers to the strategy of buying when the price is rising (represented by green candles on a chart) and then being prepared for a potential price drop (represented by red candles), which can be significant and sudden, hence the metaphor of 'dildos'.
Outlines
📈 Crypto Trading Insights and Discord Importance
The speaker, Coins Kid, emphasizes the value of joining the Discord community for cryptocurrency trading signals and setups. He discusses a successful altcoin trade with Fet (FET), predicting a 1,000% increase to $249, which was achieved. The speaker highlights the importance of optimal entry points and the use of technical analysis, such as trend lines and RSI, to identify buyback zones and potential market movements. He also mentions the risk of buying at the top of a market and the need to look for bearish divergences in candlestick patterns. The speaker plans to provide more updates on FET and other altcoins, stressing that altcoins offer greater potential returns than Bitcoin.
📊 FET Chart Analysis and Market Predictions
The speaker continues with a detailed analysis of the FET chart, looking at weekly timeframes and discussing the potential for a bearish market after a significant rise. He outlines the search for a blowoff top and the importance of identifying five waves in a chart pattern. The speaker also talks about the ABC correction and the potential for a bullish divergence, suggesting that the current position should be held. He mentions the Fibonacci retracement levels and the significance of backtesting the 1st Fib level for potential bounce opportunities. The speaker concludes by setting a target for FET at the 1.618 Fibonacci level and advises on what to look for in the charts before considering a sell-off.
Mindmap
Keywords
💡Altcoin
💡Discord
💡FET (Fetch.ai)
💡Trend Line
💡Bullish Divergence
💡Bearish Divergence
💡RSI (Relative Strength Index)
💡Fibonacci Retracement
💡Blowoff Top
💡1.618 Target
Highlights
Coins Kid emphasizes the importance of joining the Discord for altcoin setups and signals.
FET (Fetch.ai) was identified as a potential big part of the next hype cycle, with a predicted move of around 1,000% to $249.
A post about FET was made on July 13th of the previous year, which turned out to be a sweet spot for investment.
FET reached the target of $249, showcasing the effectiveness of the Discord's trading signals.
The speaker is looking for a blowoff top in the FET chart, which could indicate a market reversal.
The speaker mentions a bearish divergence in the RSI, which was a clue for buying back in a previous trade.
The speaker is currently holding a long-term position in FET, expecting more upside before a potential market downturn.
The FET chart is analyzed for potential bearish divergences, which are not yet visible.
The speaker discusses the ABC correction pattern within the FET chart and the potential for a bullish divergence.
The speaker highlights the potential for a big move in altcoins compared to Bitcoin, as seen with FET's performance.
The FET chart is analyzed for a potential five-wave pattern, which could indicate a top and a market reversal.
The speaker mentions the Fibonacci retracement levels and the potential for a bounce at the 1.618 level.
The speaker plans to wait for more data in the charts before considering a bearish stance on FET.
The speaker suggests that if FET rolls over, there could be a significant bounce opportunity at the 1.618 Fibonacci level.
The speaker concludes by encouraging viewers to join the Discord for more technical analysis and content.
