FILUSD.P trade ideas
FIL Bottom EntryFIL looks to be finding it's bottom here. It has dropped about 85% since ATH (about the exact same as BTC in each of it's bear markets). As BTC heads up to highs and beyond to close this bull cycle, expect FIL to make new highs as well. Long entry here returns over 6x+ in the coming months. Cheers!
FILECOIN HOPIUMOur falling wedge pattern broke down with BTC and ETH and we are currently sitting at major support. on the 4h, it looks like we are in the middle of a falling wedge breakout towards 45. Its possible that the overall picture though is a falling wedge on the weekly. The volume profile isnt ideal but its ok/. If this were valid, then the ATH would be the target
FILE COIN, What happened?File coin unfortunately broke down out of its falling wedge. These patterns usually have a high chance to break up but bitcoins breakdown gave it a turn for the worst. Many of the alt setups I had ended up breaking down instead as well. We are sitting at major support right now but I think its next moves are going to depend on BTC. If we can hold I think we will get a relief bounce to 48 from here. If not, we will revist the high 20's or 30. Emotions are extremely negative right now and there isn't a really a setup I see since the move just happened.
Filecoin will rise.Nice set up. Super fundamentals, Grayscale just bought for another few millions. Fil has not been nice recently from the charts, while everybody goes for hype coins like NFT´s. The narrative hasn´t changed whatsoever and storage will always be a huge problem, also for gaming and nft blockhains ;)
Anyway, I didn´t have the time to put in all my thoughts to this but I expect $FIL to break out to the up (and fake out to the downside just before to shake out all the margin trader). 3 RED LINES to show you the targets, last one at 81 USD.
Enjoy the ride.
FIL IF I WAS BEARISH I am not bearish on FIL coin but this is the best perspective I could come up with for why I might be bearish. The pattern is ok but it seems like we are neglecting the volume profile force this point of view. It would also imply we are about to go to 8 dollars which I just don't think is likely in the middle of a bull market. I am still very bullish and am not getting shaked out
FILECOIN - Where will Dr.Fil Go? 🎯100%+ POSSIBLE🎯Should be an easy play here on FIL we have a clear wedge forming with volume building. wait for either the breakout or the retest of bottom support and set you TP's accordingly.
Fundamentally FIL is a good prospect with real world use cases (though their fee structure could use some work to be competitive). They are a token held by greyscale.