bullish pattern on Filecoin!!!

23 Jul 2023

Fil seems to form an inverse H&S pattern that defines a bullish pattern, if you look most of Alts chart, you can almost see same pattern on them.

since BTC is moving in range so it is a good opportunity to other coins to rally soon. some of them did well lately.

so soon or later we can expect for rest of them to follow up the bullish market.

now if we look indicators we can see price is ranging between daily 50MA and 200MA and if closed above the 200MA confirms bull trend.

also MACD is in good shape. the histogram is neutral but MACD line is moving in positive side.

here is my strategy. the baseline around 3.6$ is my judgement level. moving above the baseline is bullish.

however to confirm this bull trend I expect price close above the key area on chart. if it is we can expect stronger rally.



Enjoy the market