To me, FET is repeating a bear market bottoming pattern now.
We are on the 4D chart.
As you can see from the previous market cycles, FET shoots up sharply from its market cycle bottom. It then does a .50 fib retracement of the move off of the market cycle bottom, and establishes a strong level of support. These areas can be seen in the light blue boxes: Sep 2020-into Q1 of 2021, and then in May of 2023 – October of 2023.
When you look at what FET does in each of its market cycles; It bottoms right in that first area of support that we just discussed.
When you take a look at what FET just did, it actually fell into that area of support that we established off of the 2022 market cycle bottom. That is, the level of support that we formed from May – Oct of 2023.
We also have a repeat pattern on the 4D RSI. The 4D RSI will have 3 heavily overbought waves during its bull market, and then 3 heavily oversold waves during its bear market. We just completed a 3rd oversold data point on the 4D RSI for FET. This occurrence and the last occurrence both formed an inverse head and shoulders pattern on the 4D RSI.
We’re actually in an extended period of bearishness for this FET bear market, too. We took a bit longer since we did a premature 200-ish percent bounce off of the bottom in April.
With the Bitcoin dominance chart not having completed a market cycle of its own – I do think that altcoins will still have a nice run within a lengthened cycle for the first time ever.
There are more repeat patterns, but I just don’t have the time to discuss them right now.
Thank you!
