✴️ Filecoin | Long-Term Bullish, Short-Term Doubtful

28 Jan

People keep asking: Filecoin? Filecoin? Filecoin? ...
I am like: OMG! What's up with Filecoin? Why does everyone keep asking about it?

The only reason I am of this thinking is because I shared a trade idea for it around early October 2023 so I thought I had it covered... Short story shorter... I decided to do an update.

👉 Medium-term, long-term bullish. We are set to experience sustained growth in 2024 and beyond

➖ Short-term it is doubtful. Filecoin can resume growing after this week, just as it can continue lower before the next jump. Even if it looks like support has been found we don't know how a Bitcoin drop will affect this pair, so we stay cautious and prefer to wait rather than make assumptions.

Because, even if a pair looks solid and strong, a sudden move on the Bitcoin side can crash everything with the exception of the ALTSBTC pairs at this point.

So all those ALTSUSDT that are looking good and recovering can surprise if Bitcoin drops just a few thousand points... So I am waiting for the market to be clear of doubts and I also took care of all the entries when prices were low.

It becomes a guessing game once the action is ongoing... See the related idea below for the previous chart.

Namaste.