Filecoin (FIL) to $170 / 10x

On a recent update to the expected alt-token market dominance idea I alluded a number of alt-tokens can expect a 10x return in the next run. And no, Cardano is not one of them so don’t ask! (The number of messages received on that token, reminds me of the XRP or Chainlink cults).

On the above 5-day chart price action has corrected over 90% from almost exactly 1 year ago. A number of reasons now exist to be bullish, including:

1) The ‘incredible buy’ signal prints.

2) Regular bullish divergence. Lots of it. 11 Oscillators are currently printing positive divergence with price action.

3) Price action is on or almost on the 0.618 golden ratio. Were I to pettifog, it’s $15.85. However given the target, don’t try to time the market.

4) Price action is testing past resistance as support. Look left.

5) A regular bullish divergence is also visible on the 2-day BTC /FIL pair (below) following a break of RSI resistance.

It is possible price action falls further? Sure.

Is it probable? No.

Good luck!

WW

PS: Would you like another?

2-day BTC pair

Trade active

Comment:

This is ridiculous. This is a 12hr chart. I don't recall the lsat time I've seen price action squeezed into such a tight spot. Two observations here:

1) One way or another price action breaks out within the next 48hours, it has no choice.

2) There's a bullish divergence here for all to see. Therefore a upside breakout is probable.

Comment:

That was an impressive capitulation from the above 12-hr chart.

Right now the BTC pairs provide the best information, and they remain very bullish. Be patient.

6-day BTC pair

Trade active:

Strong bullish divergence on the 2-day chart following a buy signal

Comment:

A textbook Symmetrical triangle formation. According to the text a breakout should be expected 70% into the formation. That’s somewhere around August 20th. The flagpole measures the next move at 85%

Trade active:

March 2021. The was the last time the FIL/BTC pair printed this condition on the 2-day chart

Comment:

A significant move is nearing.

Trade active:

Support confirmed. Next resistance $23