Confirmed Wedge Breakout on FIL/USDT - Targets to ATH ~$125 Analysis 📈
FIL/USDT has been trading within a wedge pattern for some time, and it's just confirmed a breakout, indicating significant potential for gains. Here's a comprehensive analysis, along with potential take profit levels.
Technical Analysis 📊
1. Take Profit at $6:
The $6 level marks a key psychological resistance point. It's a good place to secure some profits as FIL/USDT continues to climb.
2. Take Profit at $10:
A common technical resistance point, $10 should be another milestone to consider locking in gains.
3. Take Profit at $15:
At $15, you're looking at a solid gain, and it might be wise to take some profits off the table here.
4. Swing Target at $22 (Golden Mean Ratio):
The Golden Mean Ratio, often a significant level in Fibonacci analysis, suggests a target of $22 for the first major impulse. This is a potential turning point.
5. Take Profit at $41 (78.6% Retracement Level):
The $41 level represents a 78.6% retracement, and many traders consider this level for profit-taking or reevaluation of their positions.
6. Take Profit at $60 (88.6% Retracement):
The $60 level is another critical retracement point and should be a focus for profit-taking.
7. All-Time Highs at $125:
This is the primary target - a return to all-time highs. A substantial resistance level, but if FIL/USDT can break through, it opens up the path to further gains.
8. Major 1.272 Fib Extension at ~$200-$230:
This is where the potential for significant long-term gains lies. A sustained move above $125 could lead to a run-up towards the 1.272 Fibonacci extension, estimated to be in the range of $200-$230.
Conclusion 🚀
FIL/USDT has confirmed a wedge breakout, and the path ahead appears promising. Consider taking profits at the mentioned levels, but also keep a close eye on the price action and adjust your strategy as the market evolves.
Remember, cryptocurrency markets can be highly volatile, so make sure to set stop-loss orders and only invest what you can afford to lose. Always do your research and consider risk management in your trading strategy.
Keep a close watch on FIL/USDT as it attempts to breach the $125 level and aim for those ambitious long-term targets. Happy trading!
This is not financial advice; always perform your analysis and consult with a financial advisor before making trading decisions.
Fibonacii
SOLANA - INTRADAY AI TURN POINTS.FTX:SOLUSD Is moving nicely today. We had a nice spike low into the first CIT window today. Now looking for a move up into 14:30 this afternoon.
If for some reason it moves lower into this time then we can expect a reversal from there to the upside.
On the longer term for this if it holds the recent low at 40 then we have anupside target of 64 completing the ABCD then we should see more selling.
More charts coming. Just a look into how I use the AI with my intraday trading.
I hope you find this helpful. Enjoy the day.
Fibonacci Premium vs Discount ✅ 📝 Fibonacci is a sequence that came up with a Smart mathematician name Leonard Fibonacci came with a sequence that proved that everything in the universe repeats itself in a specific mathematical. From the petals on a flower, to the spiral patterns on snail's shell, all fulfilled with a specific numerical sequence. The same Fibonacci sequence applies in everything and anywhere including Trading. When a retracement begins as buyers will come take their profits and leave, new buyers will come in at specifici levels using the Fibonacci retracement.
📉 I use the Fibonacci retracements for entries and for take profit zones i will show that in an example on how go about doing it. Please everything that i am going to show here be ensure that you practice until you have fully mastered price action
📉I use the fib placing from the lowest body of the candle to the highest body of the candle if we are in a bullish momentum(aiming to go long)
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📝 Remember its a Fibonacci retracement. What you should remember is what i said at the beginning of the Fib that when buys take their profits and leave, new buyers get it a retracement that's where you also get it. It also vice versa when in a bearish momentum.
MP Materials: Bearish Re-Entry of the 1.13 ExtensionThis first entry got stopped out and now MP Materials is higher, however it is now hitting the 1.13 retrace and may be setting up to come back down within the range if this is a false move like i expect it is. I will officially call the trade off it it trades above the level of $62 and my profit taking targets will be first $30 then $10. I will be trading this in the form of puts around the current price expiring several months out from now.
SOL Strong ResistanceBINANCE:SOLUSDT
In the chart you can see that the 79 and 80 resistance ranges are hard
To advance the trend are difficult to climb for this currency
And you see the price again after hitting the resistance ceiling
The price is falling if returned again by the support line
The probability of failure of the roof is high and a new historic roof
Forms that will grow well in case of line failure
Price support will fall to the specified range
Important fib levels to pay attention to This chart is following a key uptrend from 2015.
I've charted the macro levels to watch for in the current market.
- Maintain above 11.8k will most likely turn a result of a break above 12k
I'll keep this chart updated
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