FILECOIN - Massive Gains as Harmonic completes
Filecoin is not a coin I would look at as a long term investment - as for most altcoins. However, we trade technicals strictly, and this coin has everything you would want it to have for a long position.
We are at the bottom of a range from 2018 lows where we sprung above a historical resistance after putting in a first low, completing the retest with a bullish bat and an adam and eve bottom, having bullish divergence on both indicators.
Filcoin is in our portfolio - not as a leveraged trade for now. Targets are set and a stop loss would be another low but we will monitor on lower timeframes to look for any bullish continuation or bearish developments.
We are at the bottom of a range from 2018 lows where we sprung above a historical resistance after putting in a first low, completing the retest with a bullish bat and an adam and eve bottom, having bullish divergence on both indicators.
Filcoin is in our portfolio - not as a leveraged trade for now. Targets are set and a stop loss would be another low but we will monitor on lower timeframes to look for any bullish continuation or bearish developments.
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Playing out so well as of right now
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First target reached! Small profits taken.
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Looking to see if we can eventually hold 5$ as support
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We held 5$ perfectly and are well on our way to the next target. Amazing gains!!!
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Textbook PA - Educate and find yourself opportunities like this. $7 might act as a soft resistance but our second target remains $7.55.
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Disclaimer - This is a bottoming structure which allows for a great Risk to Reward trade with clear entry and exit points. Our TPs are in line with the pattern shown, having said that we believe that in the upcoming bull market fil will reach significantly higher prices. In our community we have mindblowing targets - that is not to say you should buy now.
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Smashed 2nd target. $9.5 next and then we will post a second detailed analysis of where we believe we might go.
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Very KEY - Backtesting the $5 level and holding it is bullish and we are accumulating at this level. What we're looking for is an accumulation period as opposed to a quick bounce. That will allow the bullish divergence to mature and then a run to new highs. Our first re-accumulation buy was at $5.218, buying back with all the profits we took at Target 2 - $7.5, we will continue monitoring.
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Smashed target 3 a while ago, now holding above which is bullish. 14$ next
