FET · 1H · DOWNTREND

The short setup I've had mapped across two consecutive reads is still the right structure — and it's still untriggered. Price never reached the 0.1700–0.1710 entry zone in either read; instead it ground lower and is now sitting at 0.1586, which is right on top of the dense liquidation cluster at 0.1583–0.1584. That cluster below is acting as a speed bump, but the structure above me is unambiguously bearish: lower highs from 0.2700 all the way down, daily trend confirmed down, and every bounce has failed at a lower level than the last. The live derivatives read reinforces this — the dense liquidation cluster at 0.1609 is sitting just above current price, which is a natural magnet for any short-side momentum. Funding is mildly long-biased, which means the crowded side is vulnerable to a squeeze but not extreme enough to flip my read.

The news context attached to this ticker doesn't apply to Fetch.AI — those headlines are for Forum Energy Technologies (FET the NYSE stock), not the crypto. I'm ignoring them as irrelevant to this chart.

My problem right now is location. Price is sitting in the middle of a liquidation cluster sandwich: 0.1583 dense below, 0.1609 dense above. Neither entry here nor a breakout chase below is clean. The two-step setup I've been running — rally to 0.1700–0.1710, then 1H close back below 0.1680 — is still the honest entry, but price has drifted so far below that zone that I'm now looking at whether a closer version of that setup makes sense using the 0.1609 cluster as the rally target.