Hello.
This is a fake chart about Filecoin.
After a serious 150%+ plus run-up in November 2024, you had a serious seller whom cut bags.
This is typical of Filecoin and she moves like nothing I've seen. Best believe she means the direction.
Usually, Filecoin follows the rules and runs down to the "50% rule" of Retracement.
Then generally, after that, will continue to rug it's face off.
(75% retrace or >100% retrace)
We have three serious Fibs to consider:
(0.382) - $17.502
(0.236) - $8.215
(0) - $2.419
The median target would be $4.00 - $4.50 price range on a significant retrace.
Potentially, Filecoin can run straight to $15-$21 by EoY. This is unlikely, but possible.
I believe we are in a type of Bullish Correction called a "Falling Wedge".
I would only suggest looking for buys periodically, and on significant dips.
Also, remember this about Filecoin:
"People were sold Filecoin at .97cents on pre-sale."
Never forget that.
Enjoy,
Mr. Storm
This is a fake chart about Filecoin.
After a serious 150%+ plus run-up in November 2024, you had a serious seller whom cut bags.
This is typical of Filecoin and she moves like nothing I've seen. Best believe she means the direction.
Usually, Filecoin follows the rules and runs down to the "50% rule" of Retracement.
Then generally, after that, will continue to rug it's face off.
(75% retrace or >100% retrace)
We have three serious Fibs to consider:
(0.382) - $17.502
(0.236) - $8.215
(0) - $2.419
The median target would be $4.00 - $4.50 price range on a significant retrace.
Potentially, Filecoin can run straight to $15-$21 by EoY. This is unlikely, but possible.
I believe we are in a type of Bullish Correction called a "Falling Wedge".
I would only suggest looking for buys periodically, and on significant dips.
Also, remember this about Filecoin:
"People were sold Filecoin at .97cents on pre-sale."
Never forget that.
Enjoy,
Mr. Storm
Note
I also noticed this.
Note
4.5 Came Faster than expected: This is normal. Enjoy the Party!!!
Mr. Storm
Note
Looks like my Original Falling Wedge got displace by illiquidity (Naturally, Filecoin Moves: "This is typical of Filecoin and she moves like nothing I've seen. Best believe she means the direction.").
Here are both Falling Wedges I observe.
We can come back into the Original now.
Mr. Storm.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.