Bottoms up FILUSD those cups!!!!
Updated
Hello Trading View Community,
FILUSD seems to have found a nice round bottom and curled back up to the 0.236 Fib level. This level acted as nice support during the March rally that pushed FILUSD to $238. However, once support this fib level is now FILUSD primary resistance zone. Shifting our focus to the EMAs, we can see FILUSD consolidating below 0.236 fib and above 100 EMA (orange line) and 200 EMA (red line). Also notice the 20 EMA (solid blue) and 50 EMA (yellow line) trying to cross up on 200EMA, whenever the 50 EMA crosses up on the 200 EMA this is considered by many traders as a Golden Cross.
If FILUSD is able to break above and reclaim 0.236 level as support, the next leg up would be mid 90s range which has acted as resistance many times before.
Thank you guys for checking out this idea on FILUSD. If you find this analysis useful, support with a simple "Like" or "Follow".
Trade carefully and remember these are just ideas, not trading advise.
FILUSD seems to have found a nice round bottom and curled back up to the 0.236 Fib level. This level acted as nice support during the March rally that pushed FILUSD to $238. However, once support this fib level is now FILUSD primary resistance zone. Shifting our focus to the EMAs, we can see FILUSD consolidating below 0.236 fib and above 100 EMA (orange line) and 200 EMA (red line). Also notice the 20 EMA (solid blue) and 50 EMA (yellow line) trying to cross up on 200EMA, whenever the 50 EMA crosses up on the 200 EMA this is considered by many traders as a Golden Cross.
If FILUSD is able to break above and reclaim 0.236 level as support, the next leg up would be mid 90s range which has acted as resistance many times before.
Thank you guys for checking out this idea on FILUSD. If you find this analysis useful, support with a simple "Like" or "Follow".
Trade carefully and remember these are just ideas, not trading advise.
Trade active
FILUSD has battled the 0.236 Fib level since our initial post. This key resistance level has now been turned back into support for the time being. Looking at the EMA we see 20 EMA (Blue) crossing up on 100 EMA (Orange) and 50 EMA (yellow) crossing up on 200 EMA (Red), almost like a double "golden cross". Another important thing to note is how after FILUSD broke through resistance it came back down and tested as support which as of right now seems to be holding.
If FILUSD fails to hold this area, we then look at the 100 EMA (orange) as our next support zone and will re analyze our current position. For now FILUSD those cups!!!
Thank you guys for checking out this idea on FILUSD . If you find this analysis useful, support with a simple "Like" or "Follow".
Trade carefully and remember these are just ideas, not trading advise.
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