Is FET crash imminent?
2024-06-26

Intro: 
Most technical indicators are bearish on BTC in the short-mid-term. This got me thinking that the rebound of some of the alt-coins. When I look at FET, I personally think that it is a little too high, relative to where BTC is.
This is mainly a warning to investors looking to accumulate into FET for the first time at these prices:

 Short analysis: 
  
When looking at BTC on the 4H timeframe with the White Noise indicator using an RSI (100 length) as a source, I see that the momentum is still negative. I also looks like we broke a critical support level that we just retested. This could mean we go slightly lower, maybe to visit 52.6K.

When looking at FET on its BTC pair, I see that we could see an expansion if BTC's price remains stable at these levels.
  

I'd love to hear your thoughts


 I've made the White Noise indicator free for everyone on TradingView. Linked below!