FILBTC HTF with 99MA projection and short trend thoughts FILBTC HTF with 99MA projection and short trend thoughts finsihed with tidied up price and lines
FILBTC trade ideas
FILBTC HTF with 99MA projection and short trend thoughtsFILBTC HTF with 99MA projection and short trend thoughts with a cleaner chart
FILBTC HTF with 99MA projection and short trend thoughtsFILBTC HTF with 99MA projection and short term trend thoughts respecting the descending wedge
FILBTC HTF Long 4th test of support w/ descending wedge breakoutFILBTC HTF Long 4th test of support w/ descending wedge breakout
Moving into the trade here ~0.0015
SL: 0.00121
TP: 0.0025
TP: 0.0030
Could Filecoin go in a rally?Filecoin has been in a downtrend against BTC, it seems is inside a huge bull flag looking for a break out, do you agreed with my analysis?, please let me know.
Namaste.
FIL / BTC - Proposed Path - CupsJust an idea for a potential path through september / october for Filecoin / BTC pairing.
Initially we formed a cup that led up to our ATH. This idea assumes we're forming yet another cup, where the bottom of the cup completes something like an inverted HS or a double bottom pattern, and the neckline we need to break to continue upwards, also happens to be our highs from the previous cup.
Let's see what happens here.
FIL / BTC - Important Levels & Parallel DowntrendQuick reference chart for trading FIL / BTC to share, regardless of which direction price chooses to go.
See other related chart ideas for Filecoin.
I believe we either make a small double bottom here around ~0.0014-0.0015, and then head up towards the top of our channel, or we head all of the way back down and make a double bottom on the overall chart.
FIL / BTC - Filecoin has Broken out of Macro and Micro TrendsFIL / BTC has broken out of both downtrends, on the micro and macro levels. Both break-outs attempted re-tests unsuccessfully (failed touching the top of the break out area, both times, especially strong on the macro trend break out), making it look strong vs. BTC pairing.
Next resistances are the red boxes, support is green.
Expecting we see at least 0.002 or just below that barring no move below the green box. A break above 0.002 and the micro channel could send us back into the bigger red box. right red box may be a strong stopping / testing area if we get back within it. If we get above that area as well, we can start to think about significantly higher movement.
FIL / BTC still in the same uptrend it began in MarchWeird chart here, a bit unconventional - but... if you draw trend lines along the current 30 min chart pattern's top and bottom, and again along the 4H chart in the same two areas:
- it connects back to pivot points along the uptrend from back in March.
It looks like we should've continued by forming a parallel uptrend from there, but instead of this slow and steady uptrend forming within a channel; with the anticipation of strong continuation, it rose significantly above where we should've and has now corrected.
So, now - we've corrected back down within the channel that should've formed to begin with. It is slowly beginning to tighten, and may yet get broken above again.
Let's see what happens. At the least, I expect we touch the top two trend-lines again, and then continue to move within the channel... if we don't break above it fairly quickly after touching the top again.
Filecoin Still Strong Against Bitcoin ChopBitcoin is chopping around hard as it reaches the likely end of its consolidation period. But here we that Filecoin, after having gone through its own massive consolidation even before the dump, is reacting positively against Bitcoin's annoying moves to the downside -- moves that are taking other altcoins down with it.
Take for example the move in the past couple of hours. Filecoin/BTC shot up, and we don't even see a bear divergence on the short term 15m timeframe. So I'm still happy staying in Filecoin for now; because unless we see another true meltdown for all of crypto, Filecoin is going to embrace any positive price action in the space.
FIL / BTC - Potentially Strong Gains vs BTCFilecoin may complete an inverted head/shoulders here, with TP 1 and 2 visible as dark grey lines near the top of the chart. Volume has just begun coming in on the weekly chart, and it's clearly shown up in a big way.
It looks quite similar to Ethereum prior to its move against BTC (and its new ATH vs USD). Ethereum weekly chart made an inverted head and shoulders, it had a fake breakout and then fell back below the neckline before finally breaking out for the real run. Filecoin could've been drawn exactly the same way before it made its initial move to its all-time high.
Keep an eye on this one, it may just be getting started, and the previous high may have just been a small preview of what's to come.
The wick on the weekly candle chart from when it exited the initial HSi was insane, see below:
FILBTC Technical AnalysisFILBTC is still in the Bearish Flag . There is a big Green candle which shows that the Bulls are pushing the price higher. there might be Pullback at 0.0020017 but the price most probably will go to the upper band of the channel. if we get a break out of the Resistance there is a high chance that the price goes to 0.0027616
SL @ 0.001458
TP1 @ 0.0027616
TP2 @ 0.003542
TP3 @ 0.0045323
bullish channel comeback?if btc continues sideways for some time, it will allow alts to continue the rise.
support level filecoin reachedOn this price level it seems to be stable and can cycle into an uptrend. Posting this chart to capture the moment
An oppertunistic shake-outSince I've posted the previous chart (on 1th of may) we can see the TTM squeeze hasn't completed yet (marked in upper chart with yellow circles).
But in my previous post, I've also explained how I use this DMI indicator to
signal the start of a new trend.
measure the fading trendline untill its end.
track the intermediate bearish pushes up till strength 40
The focus on strength 40 wasn't the right way to look at it. All the pumping happening at the time got to me, making me grow impatience. Because since I've posted that chart, these pushes became more dominant. And now we have had two consecutive bearish pushes. This can be described in two ways.
The first explanation (oppertunistic shakeout, my prospect. Previous analysis still applies):
When the trend is stale in both directions, it doesn't take a lot of force to move the price significantly. What this means is (I try to explain in layman's terms) less bears are necessary when the bulls are absent and vice-versa. The price shift is caused by opportunistic trades and do not have a fundamental catalyst. This does not cause a change in prospects but is psychologically torturing traders with long positions.
The second explanation, the reversal engages and a trend down is set. This is a premature conclusion and the chart is misinterpreted. I like to point out, misinterpreted. Not a false signal . It is extremely hard to predict a reversal (means charting before a reliable confirmation signal has happened). The DMI can be used for these things if used accordingly. We have 3 points in our chart that tell us we can't predict a reversal 'reliable'.
1. If we were to chart a new trend, this can only happen after the current trend halts.
- An example of a flaky trend stop signal would be on 23rd-24th april.
- An example of a clear trend stop signal would be on the 20th of march
No trend halts abrupt, nor is the halt always very clear. But we can see pretty obvious that the combined trend hasn't dropped below 20 since the 1th of may.
It has come close to 20, but didn't drop below it. And even if it did, it would take an additional bar (longer silence = more reliable) for an acceptable trend stop according to my own methods.
2. Both bearish pushes had less strength than past bullish push
3. The second bearish push was weaker than the first one, while the last bullish push was stronger than the bullish push before that.
If you enjoyed reading this please leave a comment. If you have any questions, please DM me. I can imagine you have questions, i am happy to answer them personally.
As I am a small analyst with few followers, comments actually give me huge dopamine rushes.
Filecoin. Possible next participantHello!
I realized that I usually put signals which are just about to break or has just broke out which would need a throwback (pullback and retest) for a "perfect" risk/reward.
I was thinking I'll put an update now early on from a possible participant for us
We have a nice looking bullflag here.
We will follow this one and look, how it starts to play out
Give a like if you like this idea
-Jebu
The Setup Is Bullish ❕Ready For Breakout From The Triangle ,The Setup Is Bullish
🔴 Stop loss zone : 23000 ~ 22800
