As you can see on the 1 Hr timeframe there is a falling wedge formed. It fels together with support on earlier price moves. Even the RSI has cooled down a bit.
But watch out, on the 'daily' the RSI is still in the 'over bought' area.. Despite of that I'm bullish on Filecoin
Filecoin is not a coin I would look at as a long term investment - as for most altcoins. However, we trade technicals strictly, and this coin has everything you would want it to have for a long position.
We are at the bottom of a range from 2018 lows where we sprung above a historical resistance after putting in a first low, completing the retest with a bullish...
With upcoming AI, storage systems are needed, FIlecoin can technically provide a huge ammount of solutions. We have been at those highs already.
Dont be late.
Filecoin is being shilled by Arthur Hayes
as he likes the narraitve of decentralised blockspace
I just like the chart :)
I predict we see this W bottom play out for a second time
Will the blowoff top be as manic ?
still good gains to be had ..
if Bitcoin does what we hope
Fil is now currently trying to build support on top of the 8.40ish-9.30ish critical support area. This is on top of the large accumulation area that it has faced for its market cycle bottom.
We hit a 1.618, and corrected down to a .786. Now I expect us to take a shot at the 4.236, which is around $20.00. I think that we get rejected there, face a small...
The elevator ride is over, and as Steven Tyler once sang in the song, "Love in an Elevator"...."We're Going Down!!!" FILE COIN just couln't get past the $8.60 barrier. And is now breaking down. I was so hopeful, as were many others...
The new buying opportinunity will be in the range of upper $5 to mid $6.50.
The FIL/USD 3-day chart exhibits a pattern resembling a double bottom. Based on technical analysis, if this pattern is confirmed, it could theoretically suggest a potential price target above $16
This asset seems to have great profit potential even before surpassing its all-time high. Therefore, I'd keep an eye on these two main targets as potential profit-taking zones.
TSX:FIL is now my largest allocation because I think it has the biggest amount of upside in the shortest amount of time.
Not sure what the catalyst will be that sends it higher, but think there's a possibility that TSX:FIL can go 3-6X over the coming weeks.
Breaking the $6 region will break a 1.5 year consolidation of a downtrend and I think the move out of...
