FILUSD - 1D - Perfect Entry Right Now - Wyckoff AccumulationCOINBASE:FILUSD
I am still extremely bullish on Filecoin. It has held to Wyckoff Accumulations/Distributions in the past, so we can be fairly certain that it is likely to happen again.
We are finishing the spring formation now. This is THE BEST time to get in. "Why", you ask? I'm glad you asked. Because our risk:reward ratio is never better than in a spring. Go long at this point, and then set a stop loss below the lowest low point of the spring. Even if the trade turns against you then you're stopped out at nearly nothing of a loss.
You can see my projected dates and profits at the right side of the chart. If you buy and hold I do see the possibility of a ~400% profit. It could take much longer than this, but either way... we are headed there.
FIL has been accumulating/consolidating for almost 200 days. For a crypto, this is unheard of. I have a feeling it will explode within the next 7 days.
FILUSD.P trade ideas
FILUSDT - Long PositionResistance about 24.64 is broken out in Daily timeframe 4 days ago and its pulled back to that resistance is done.
I thinks it is a good position for Long.
Entry price: 25.3
TP: 40.8 (61.2%)
SL: 22.8 (9.9%
R/R : 6.2
P.S: I'm not a native English speaker but tradingview is forcing me to write the caption in English. ๐
FIL time to shine?To start, regarding my last MANA post, all is still in tact, it's just taking longer to perform than some other tokens. This is why it's best to have a few tokens in your bag. While MANA and FIL have been languishing I had a great trade with ETC, added 33% to my entire portfolio value in a week with that one trade (not pennies by any means). As MANA and FIL sat I kept rolling into ETC, as ETC topped, started rolling back into FIL as the strength was showing, letting my MANA bag ride and will add on breakout, which has yet to happen.
As for FIL, it's all in the chart. My near-term target (1-2 weeks) is $60. Good luck!
FIL, start rising.The following are machine translations:
3 dips near 17.
The short-term downtrend and the lower 17 support form a bottom triangle.
The current breakout of the bottom triangle is bullish.
Try to place more orders and buy bottoms. The maximum stop loss is the stop loss that falls below the lowest point below.
FIL BUY opportunity with over 10% gain detected ๐Concervative TP target: $18.86
I'm seeing a similar momentum shift taking place on MDT and FIL coins. They both have been lagging behind BTC and ETH. With the high momentum and energy build up. I expect FIL to pop higher and reach the target.
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Please keep in mind that I'm not a financial advisor. Trade at your own risk.
Filecoin LongFilecoin is severely oversold, especially when considering their progress developing the network and its relationships. Technicals suggest that price action may go lower however at the current level it's a solid place to take a long position. FIL price has formed a double bottom at $16.75 and $17.10. It may retest again to create a triple bottom which would further confirm a position in this zone. Cross section resistance coinciding with 0.236 Fib resistance places the primary target in the $60-82 range. A position here to the primary target is a >3:1 reward:risk ratio. Prior volatility suggests parabolic moves up can be sudden and the throwbacks significant... as much as 30-40% from the initial surge. The resistance zone around the daily 200MA may be a good place to play the throwback and increase holdings by 15-25% before closing at the targets above.
If price drops below the Fib baseline ($16.75), stoploss out (and be sure to reenter if price reverses and heads above). Price should stabilize in the $12-15 range if Fib baseline doesn't hold.
FIL/BTC chart to follow.
It's time.
With news these days anything can happen, so take this for what it's worth.
Also, I don't know how to use these tools, but I'm not sure it should matter with a chart like this. My lines suck, but oh well.
We're at support and hovering around impulse from Feb of last year. It shouldn't be this easy, so maybe it isn't....? First stop $31? Higher? Much higher? In this environment, swings could go much further in either direction. I'm in.
Really, I'm still just trying to learn and gain a few measly rep points. :)
Thanks
Filecoin Long - triangle breakout setupAs we can see FIL has been in a bear market since april 2021. Having reached a support zone always respecting the major weekly trendline we could se a pump and consequent break of the triangule structure. RSI and MFI at low levels showing possible reversal of the bearish pressure. Yellow zone marked on the graph is a possible Fib retracement zone
The project itself is based on storing data on the blockchain, that a plus for this trade. Also considering the imminent pump on BTC every alt coin tends to pump afterwards so this could be a great zone to enter in.
I will wait to have the support verification and the DCA and TP at the Fib zone.
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