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.
FILUSD trade ideas
FIL BUY opportunity with over 10% gain detected 🚀Concervative 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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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.
𝗡𝗢𝗧 𝗙𝗜𝗡𝗔𝗡𝗖𝗜𝗔𝗟 𝗔𝗗𝗩𝗜𝗦𝗘
FILECOIN will it ever recover? FILECOIN descent has been nothing short of brutal with almost no real relief bounces on the way down. We are at major support right now and we have been in this falling channel on declining volume the whole time. Technically, it can consolidate sideways within this channel before breakin up towards 95 but it must beat the 36-39 level. That is the main resistance to beat. I think we can get relief to that level atleast from this breakout
FIL USD BULLISH DIVERGENCEFilecoin is a decentralized storage system that aims to “store humanity’s most important information.” The project raised $205 million in an initial coin offering (ICO) in 2017, and initially planned a launch date for mid-2019. However, the launch date for the Filecoin mainnet was pushed back until block 148,888, which is expected in mid-October 2020
Filecoin (FIL) - January 17Hello?
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(FILUSD 1W Chart)
It must rise above the 47.149096 point to turn into an uptrend.
Now that we're out of a sharp decline, we need to see if we can sustain the price above the 34.099171 point around the week that includes January 24th.
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(FILBTC 1W chart)
It must rise above the 0.000969 point to turn into an uptrend.
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We recommend that you trade with your average unit price.
This is because, if the price is below your average unit price, whether the price trend is in an upward trend or a downward trend, there is a high possibility that you will not be able to get a big profit due to the psychological burden.
The center of all trading starts with the average unit price at which you start trading.
If you ignore this, you may be trading in the wrong direction.
Therefore, it is important to find a way to lower the average unit price and adjust the proportion of the investment, ultimately allowing the funds corresponding to the profits to be able to regenerate themselves.
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** All indicators are lagging indicators.
Therefore, it is important to be aware that the indicator moves accordingly with the movement of price and volume.
However, for convenience, we are talking in reverse for the interpretation of the indicator.
** The MRHAB-O and MRHAB-B indicators used in the chart are indicators of our channel that have not been released yet.
(Since it was not disclosed, you can use this chart without any restrictions by sharing this chart and copying and pasting the indicators.)
** The wRSI_SR indicator is an indicator created by adding settings and options to the existing Stochastic RSI indicator.
Therefore, the interpretation is the same as the traditional Stochastic RSI indicator. (K, D line -> R, S line)
** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.)
** Support or resistance is based on the closing price of the 1D chart.
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(Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. It is a short-term investment perspective.)
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