WhoIsWu

FIL getting ready for a Rally?

FTX:FILPERP   Filecoin Perpetual Futures
On a Daily chart , FIL appears to be channeling down (semi-channeling) towards a historic Support all the way from the year 2020. I'm not counting on FIL to reach the Support, I'm more interested with what happens to RSI and MACD . Historically, whenever FIL's RSI dipped below 30 on a Daily chart , the price recovered at least 50% rather quickly. This can be observed on May 19th 2021, June 21st to 29th 2021, and a few other times. This recovery pattern is more evident on lower timeframes, have a look at those dates on 1H or 4h.

In the mean time, I am playing the down trending channel, hoping for a rally by observing 2 main indicators on a Daily chart .

#1 RSI reaching 30 or lower and then breaking the trendline
#2 MACD Cross Up
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