Fil rose above the 20MA on the daily, and then smashed the 50MA as well. These are pretty slow moving averages, and it's good to see this.
The previous pump we saw in FIL had a volume of 77M just on Kucoin alone, in one single candle. After that, the next 3-4 consecutive days we had sell offs but with a maximum of 30M cumulative. That means, more than half of the buyers just in the single pump candle are still holding on. And there is a good reason why.
FIL is possibly creating a cup and handle formation, as mentioned in my other charts for FIL. And given the relatively lower market volume for this, a rise in BTC will see this thing shooting off faster than the rest of the alts.
As the other coins make somewhat weak patterns such as SOL, XTZ, etc., there are others that are making very strong bullish patterns each week. Some of these are ICP, FIL, ETC, QNT.
I am doing analysis on those, and I have easily secured over 200%-300% + within 7 days of posting my charts.
For a negative bias on FIL, we can say that it does have a bearish rejection on the weekly candles. It got rejected under the 20MA and it using it as a resistance zone. Picture below. We want to see it break past this.
The previous pump we saw in FIL had a volume of 77M just on Kucoin alone, in one single candle. After that, the next 3-4 consecutive days we had sell offs but with a maximum of 30M cumulative. That means, more than half of the buyers just in the single pump candle are still holding on. And there is a good reason why.
FIL is possibly creating a cup and handle formation, as mentioned in my other charts for FIL. And given the relatively lower market volume for this, a rise in BTC will see this thing shooting off faster than the rest of the alts.
As the other coins make somewhat weak patterns such as SOL, XTZ, etc., there are others that are making very strong bullish patterns each week. Some of these are ICP, FIL, ETC, QNT.
I am doing analysis on those, and I have easily secured over 200%-300% + within 7 days of posting my charts.
For a negative bias on FIL, we can say that it does have a bearish rejection on the weekly candles. It got rejected under the 20MA and it using it as a resistance zone. Picture below. We want to see it break past this.
