FIL / USD - Update on Breakout of Downtrend4H Chart here, displaying 50/200 daily EMA and MAs. We recently confirmed a death cross with our MA/EMA. Within days of our previous death cross, filecoin had a golden cross and rallied to over 230 dollars over the weeks that followed. Here we are again, just after breaking out of a nearly 90 day, 80% correction.
We either head up imminently, or it's possible that we re-test our bottom @ ~45 dollars while re-testing near the top of the trendline we recently broke out of, forming a double bottom prior to the rise. If we head down before up, I feel like the potential for greater gains exists. Meanwhile, I'm targeting a move back up to the 3 most recent fibs, and some resistances not shown here that are near the fibs. 112 and 124 seem like good targets if we can break 70 dollars, possibly a move up to 150-160s.
