Price has been moving down in a downtrend triangle. We need to see the upper line of the triangle break in order for the uptrend wave to signal the start. If the uptrend wave starts, there are two immediate resistance lines on its way up; the horizontal and uptrend line.
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Could Filecoin be making a Head and Shoulders pattern? Let's see what happens.
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So, Filecoin went up and now trying to break the Head and Shoulder's neckline. If successful, reversal confirmed. Let's see what happens.
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So, last time Filecoin couldn't break the Head and Shoulder's neckline, retraced, and now trying again. Let's see what happens this time.
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So, Filecoin broke the Head and Shoulder's neckline, made a small pullback and is going up toward the first horizontal resistance area. Let's see what happens.
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So, as it turned out, FIL is moving in an ascending channel. FIL is currently at the bottom and has broken the downtrend line. Let's see what happens.
Trade attivo
So, after FIL oscillated at the bottom for a while, gained enough momentum, then broke the minor triangle pattern and is going up. Let's see what happens.
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Just an update.
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So, even though FIL revisited the lowest area, the main analysis is still valid. It seems FIL is moving in a descending channel. Let's see what happens.
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.