FIL/USDT
1D/8H
Spot buying FIL here, respecting the major uptrend having formed a falling wedge breakout with the correction pulling into the golden fib and into a 4H demand zone, rejecting nicely off of it creating a pin bar on the daily and many rejection wicks in this area. On the 8H we have broke out of minor downtrend with high volume breakout as shown with the arrows and currently consolidating in the golden fib and demand zone. Daily MACD looks healthy showing momentum building up and close to crossing over centrline as sell side pressure on the histogram decreases
Using fib projection on the corrective wave the next levels where price should head towards is the golden fib (yellow zone), usually find price rejects and consolidates around this area before breaking through it and continuing onto the 1,272 and 1.618 respectively.
272% away from its high so a great swing trade if held onto during the next alt season which doesn’t look too far off based on other charts and analysis.
Fil is another ALT with great fundamentals for decentralised cloud storage, check it out here:
filecoin.io/
1D/8H
Spot buying FIL here, respecting the major uptrend having formed a falling wedge breakout with the correction pulling into the golden fib and into a 4H demand zone, rejecting nicely off of it creating a pin bar on the daily and many rejection wicks in this area. On the 8H we have broke out of minor downtrend with high volume breakout as shown with the arrows and currently consolidating in the golden fib and demand zone. Daily MACD looks healthy showing momentum building up and close to crossing over centrline as sell side pressure on the histogram decreases
Using fib projection on the corrective wave the next levels where price should head towards is the golden fib (yellow zone), usually find price rejects and consolidates around this area before breaking through it and continuing onto the 1,272 and 1.618 respectively.
272% away from its high so a great swing trade if held onto during the next alt season which doesn’t look too far off based on other charts and analysis.
Fil is another ALT with great fundamentals for decentralised cloud storage, check it out here:
filecoin.io/
