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Apr 25, 2022 2:44 PM

FILUSD Appears to be in a false breakout - 4H Long

Filecoin / United States DollarCoinbase

Description

I believe we could be in the middle of a false breakout to the downside with FIL.

Breakouts of solid trends are almost always accompanied by a huge volume candle to confirm the demand. This breakout happened on very very weak volume, likely because of FILs correlation to BTC. I forsee a whip back above the triangle, and then a possible retest down to the red line marked on the chart before continuing higher.

I am bullish on FIL. It is only a matter of time before mainstream catches on.
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