Filecoin Weekly - Are you invited to the pump party?So Filecoin to many is a coin that had a great promotion campaign at one point and it went on to do some great numbers. The hype died down as some people couldn't seem to justify it's high price. It peaked at $231 from Feb 2021 - Mar 2021 doing just over 10X from the $20+ is started from.
At this point we didn't even know about this coin or it's use case. Information storage is and will be even bigger going forward so this makes Filecoin worth acknowledging at least.
When File took a dump with the rest of the market it held the $39 level but crucially recovered most of the (Green) Manipulation candles that too it to the 200's and then proceeded to make a trip to the 100's peaking at $111. Once again using manipulation candles to complete the latter part of the journey. The top green instantly recovered by a red, followed by a failed retail candle and a Purple, indicating further downward movement.
2nd Aug-9th Aug We entered at $50 and was out at $75 (50% gain) called it a day and missed the rest of the run to $111. But what we saw was worth way more than enjoying more "fake pump." What we did instead is label up the chart to see where we could possibly get a very Special entry price for if Filecoin is invited to the next pump party.
The only reason we are sharing this idea is that after waiting patiently for 4.5 months, Price is finally approaching Our "FLOOR FLOOR FLOOR" buys line. (blue line at $24.30) Furthermore, it is recovering a Green Vector candle ($24.2-$33) from where it took of in the first place and lastly we have a double green dot on the VMC indicator (weekly).
(Beware of weekly embedded to the downside since NOV)
I meeeean, just saying, we would much rather be in at a price close to the one that it did 10X from early 2021 then be trying to FOMO in like most people. It worked at $50-$75 but it will not always play out like that.
So in summary, There are some confluences telling us that if File is to pump,we can at least expect it to try and recover the (Red) Vector candle at the HL ($110-$113)
But in Crypto, especially as most if not all depend on BTC/ETH/BNB,etc to do well for them to follow suit. It is always a waiting game when the beast that is BTC is sleeping or retreating(barring a few exceptions here and there)
We are potentially looking at:
E: $23-$28 (if it cannot break $30 we will settle)
T: 1) $50 2) $75 3) $100 4)$140 5) $160
SL: Common sense
Now this is definitely not financial advice and should be taken with a pinch of salt!
