FILUSD trade ideas
FIL - Potential Bullish Reversal!Hello everyone, if you like the idea, do not forget to support with a like and follow.
FIL is sitting around a strong demand zone in green so we will be looking for buy setups.
on DAILY: FIL is forming a channel in red but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)
Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)
Meanwhile, until the buy is activated , FIL would be overall bearish can still trade lower till the lower.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Filecoin on its way to oblivion?Well it has been looking terrible hasn't it. However, we are really, really, I mean REALLY closing to a turning point. I have to make this post because if you don't see the possibility of a flip-ver here soon you are blind. I see the green order-block as the optimal turning point and I also see it as a very cheap buy.
Swing TradeFIL had a huge run at the beginning of 2021. Not sure what happened but I guess the market deemed it was way overvalued.
Now it looks like it's trying to round out a bottom as it recently swept the prior lows. Bullish daily RSI divergence in play. Levels are on the chart but could be a pretty big swing trade in coming weeks
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.