the monster: FIlecoin is looking to reload

Updated

Filecoin (FIL, filusd, filusdt) looks to be attempting a reload here. It's not there yet for us... the 21 SMA is crucial for our system and when we are below that it's a no-go for us. But this momo name has lots of power under it and has our attention 100. We like this particular area for two main reasons... the VWAP (lime green) and the volume profile LVNs. Significant areas of support no doubt... only thing lacking here is price action to confirm with the 21 SMA.

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That 190 area, exactly at the top of the current range, is key now.

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high probability we chop around the 170.61 level as it figures out what it wants to do

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a wick like this on the 210 is not optimal for an upside break out of the consolidation... it will need to fill and break.

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EW if the 21 SMA on the 210 rolls and pushes under the .236 fib here and we could see a MUCH deeper pullback here. This is why we wait for price to confirm.

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continues to break ranges lower... 147 should be a real solid area. But this is a definite wait and see trade now. It will need alot more time to rebuild a trigger for us.

HumbleFutures

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