without_worries

Filecoin / USD / BTC - Regaular bullish divergence

Long
BINANCE:FILUSDT   FIL / TetherUS
On the above daily chart a ‘incredible buy’ opportunity now exists following a 80% correction since April with oversold condition ( orange column). Why bullish?

1) Price action breaks out of resistance to find support.

2) Regular bullish divergence . Lower lows in price action with RSI and MFI higher lows. There is actually 8 oscillators showing bullish divergence with price action at this time, but for the sake of keeping the chart clutter free they are not all shown here.

3) Stochastic RSI is crossing up 20. The green shaded area only occurs when high probability of uptrend exists - look left.

4) Price action against BTC on the daily chart (below) is also showing similar oversold conditions with ‘incredible buy’ opportunity. Excellent.

5) The 10-day chart (bottom) is currently testing support on past resistance.

Is it possible price action falls further? Sure.

Is it probable? Very unlikely. Excellent risk/reward ratio at this time.

Good luck!

WW

FIL / BTC daily chart:


10-day chart:

Trade active:
Support confirmed, safe to go long now - 1st target $60
Trade active:
Target reached, but not over. The weekly FIL / BTC chart is looking incredibly bullish.

Comment:
$60 target reached.

Comment:
60% return thus far. On the daily chart below following the recent move up Stochastic RSI now crossing down suggesting (red shaded area - look left) price action either move sideways or taps a dip down to the 21-day EMA.


Trade active:
110% so far, no sell signals yet.

Trade active:
Strongest signal to date prints.
Trade active

BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy

ETH
0x9f9b2d80747ac09d2d7bb63761e10b9a9738df52

Allow 3-6 months on ideas. Not investment advice. DYOR
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