✴️ Filecoin | Trend Reversal (Name Your Altcoin #30 ✅)
The market has two main cycles, bear and bull or up and down. GREE and RED.
Once one cycle is over, the next one starts.
This can remove a lot of the complexity of buying and selling.
So, can we make a case for the bearish wave to be over for Filecoin vs Tether (FILUSDT)?
If the bearish wave is over, a bullish wave follows... But we can have bearish waves within bullish cycles and bullish waves within bearish cycles.
Corrections in short.
In a period of 623 days, Filecoin dropped by 99%. That's -99.02% from the March 2021 All-Time High, to the December 2022 All-Time Low.
We have that one on our side... The bottom is likely in already based on the simple fact that altcoins tend to correct between 93-98% on their USDT pairs. This one went beyond and hit 99%.
The next signal is the trading volume.
I mentioned this one tons of times in the past but then moved to some other signals... Some of you might remember it.
We have really high bear volume in August 2022.
As a new low is hit in December, this bear volume is much lower... Telling us that the bears are exhausted.
We can also spot a 5 down-wave pattern.
When we can easily count 5 waves, the current move is very likely over.
What follows is a correction which in this case would be an upward correction a or full change of trend.
The change of trend would signify the market switching from bearish to bullish.
These are very strong signals.
Anyway, we don't have to guess or be right. If I am trading, I just need to define my support levels, define my risk/stop-loss.
We can have two stop-loss based on personal risk tolerance or trading style.
A short-term one and long-term one.
Everybody has to do their on thing so I am only sharing some info that you can use the improve your own trading, confirm something, learn or just be entertained.
Short-term, $4.00 is the main support.
One or two weekly sessions/candles closing below this level can lead to closing a trade.
Long-term, the Dec. low.
If FILUSDT closes below $2.32 once or twice then any bullish potential has been completely removed...
Now the good part.
Any trading above $4.00 is super-bullish.
Any trading above the $2.32 December low and there is potential for FILUSDT to move up and grow long-term.
Thank you for reading.
Thanks a lot for your amazing support.
Here we finish Part 3 of Name Your Altcoin.
Namaste.
FILUSDT
Filecoin (FIL) coin formed bullish Shark for upto 11.50% moveHi dear friends, hope you are well and welcome to the new trade setup of Filecoin (FIL) coin with US Dollar pair.
Previously we caught a nice trade of FIL as below:
Now on a 4-hr time frame, FIL has formed a bullish Shark move for another price reversal.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
FILUSDT Elliott Waves AnalysisHello friends.
Please support my work by clicking the LIKE button👍(If you liked). Also i will appreciate for ur activity. Thank you!
Everything on the chart.
growth from current price or through one more decline in zone 4 - 3$
I dont wanna miss trend that's why im already in pos and will buy more if we get one more decline.
In any case we're in a global buy zone 4.5 - 3$
Entry: market and lower
Targets: 6.2 - 8 - ~10
after first target reached move ur stop to breakeven
Stop: (depending of ur risk). ALWAYS follow ur RM .
risk is justified
Good luck everyone!
Follow me on TRADINGView, if you don't want to miss my next analysis or signals.
It's not financial advice.
Dont Forget, always make your own research before to trade my ideas!
Open to any questions and suggestions.
FILUSD 30 % drop possible before finding the bottomFILUSD looks bearish .
Resistance acting as a resistance . The price currently is below the key level and 30 % drop is still possibble before finding a potential bottom .
Currently it looks that the price may reach just below 3$ or maybe even 2,5 $ which would be a good buy zone for the next bull market.
Any bounce probably will be a short lifted and the price eventually will go down.
Good luck
Filecoin : Bullish structure impact!Hello everyone!
Filecoin appears to have paved the way for further upside in the short-medium term. The technical structure on intraday chart is bullish, and from a technical point of view, one should increase long positions on each retracement.
If this idea will be supported by your "Likes" we will continue to follow the crypto with updates below.
thanks for your attention and please... trade with care! 💖
Filecoin FIL price "more dead than alive", what next ?Two months ago, we made the idea of FILUSDT, where we wrote that the price was at a critical point near $5.
Unfortunately, the fall in the cryptocurrency market continued, and the FIL price reached the target of $3
Moreover, the price of Filecoin token on 16.12.22 updated its absolute price minimum - $2.42
What do you think caused a -40% drop in the FILUSD price in just 15 minutes on 16.12.22, write in comment?
The most positive scenario at this moment for FILUSDT is consolidation around $3 with further growth to $5
It will be unrealistic to break above this level the first time.
If you believe in this project, the price of current purchases is close to the minimum.
A similar situation on the FILUSDT chart was in December 2018, but there is a nuance, then the BTCUSDT price "trampled" the bottom around $3200, and now Bitcoin is 5 times more expensive (Fil unfortunately not...)
_____________________
Did you like our analysis? Leave a comment, like, and follow to get more
THE NET VALUE OF FIL = 21 USDSince the bear market, more coins did lose their value, and some coins are even lower than the current price in NET value.
Today we are going to add about FIL, where we expect a short-term target of $ 4.30
NET value is much more important to count since this coin is able to return to $21 USD as Net value.
THE 21 USD was also the most important Zone for the increase to above 700% increase by FIL in 2021
We did count today depending on algorithmic trading and more trends and found out that the net value of this coin should be more than it's now.
Also, for this reason, we will follow this coin coming time.
The current price of this moment is 3.73 Depending on netcounting its wroth 21 USD.
Dealing with resistanceThe target we can consider for FIL and expect a negative reaction from it is considered in the range of $4.08-$4.17. This buying pressure indicates that the price can continue the upward trend after a correction on the upper range of the previous channel. Note that the specified resistance, because it was the floor of the trading range channel in the past, can have a negative reaction at the first encounter with a very high probability.
FIL your bags nowMassive upside incoming, the future of cloud computing on the blockchain, not sure how theyve accomplished it but this is a decentralized dropbox apparently and its gold. Just has its caputialization drop last week where it retested the lows, to take out all of those bag guys, should be moon city from here on out. probably follows eth and the markets in general but besides that lets get it