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
FILWCRO_218914.USD trade ideas
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.
Filecoin Breaking out - Storage set to recoverShort term price target - $90
Short term outlook - Bullish
Long term outlook - Bullish
Storage coins are finding support and strengthening. This is am amazing part of the blockchain world and will be the future of file storage.
This format might not look exactly like what we see today, but Roam wasn't built in a day!
I am bullish on blockchain file storage over the next month and longer term. I will keep on HODLING. However, this could be a nice entry point for someone looking to get exposure in to this space.