Welcome to this quick FIL/BTC analysis.
I have tried my best to bring the best possible outcome in this chart.
Reason of trade:-FIL/BTC PARALLEL CHANNEL and buy the green zone and (SPOT CALL)
Entry:-0.000251,0.000280
Traget:- 70%
Stoploss:- 0.000225
Remember:-This is not a piece of financial advice. All investment made by me is at my own risk and I am held...
We are looking at the weekly timeframe for Filecoin (FILBTC), which means that the signals here are really strong.
We have a perfect falling wedge pattern breaking bullish and a bounce at long-term support.
Prices are bouncing at the May 2020 support level.
We have a volume breakout this week...
And a young bullish cross on the MACD:
We also have long-term...
FIL/BTC has broken out of the longest term downtrend resistance. From current price it's 112% to the daily 200MA, 162% to the low end of the resistance zone and 257% to the top of the resistance zone. FIL/BTC did create the lowest low so I fully expect a lower high which is demonstrated by FIL/USD targets that are less than 50% of FIL's ATH.
The price had a breakout from the huge falling wedge and now is going to test the previous resistance as new support around 0.000553.
The price had a breakout from the 4h dynamic resistance too and got the rejection from the 0.382 Fibonacci level on 4h timeframe.
How to approach?
IF the price is going to have a breakout from the 0.006, the 0.5 Fibonacci level,...
Bullish on FILBTC in the interim still. Expecting FIL to bounce here and make a run up to the top of this range. For those of you who are unfamiliar with FILBTC, this chart represents Filecoin’s performance vs. Bitcoin’s performance. Of course, for Filecoin to perform well, Bitcoin must perform well too. I expect both to bounce off this recent pullback.
Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (0.000770).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. FILBTC is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a...
Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (0.000770).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. FILBTC is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a...
In the big picture, FIL is back in accumulation zone (marked with purple rectangle). Staying above accumulation zone AND Closing/holding above weekly RSI 40 will be the confirmation of the start for the run.
“Conservative” targets are marked on the chart up to 2.3x
FIL is getting stronger on this pair
Price may continue to grow
Here's my target (mid-term)
about
Filecoin (FIL) is a cryptocurrency that powers the Filecoin network, a decentralized peer-to-peer file storage network that aims to let anyone store, retrieve, and host digital information.
FIL tokens are used as payment for these services and as an economic...
Filecoin was in a giant falling wedge on the daily, we broke out, never reached min target, but also never broke back down into the old wedge when re-testing. Instead, we've rode the top of the wedge we broke out of, bouncing off of it and creating yet another falling wedge above the original structure. Now, we've broken out of the upper falling wedge.
Let's...
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