Is there still hope for FIL in this bull market?
From the big trend, FIL has been fluctuating at the bottom for nearly one and a half years. During this period, it has also tried to break through, but failed. This shows that the pressure on FIL is very heavy. Some people leave the market when it rises a little bit, and after fluctuating at the bottom for so long, many short-term traders will also take profits at the pressure level. Logically speaking, the longer the bottom oscillates, the greater the room for later rise, but this may not be the case for FIL.
Use the Qianlong strategy to analyze the weekly market of FIL.
1. At present, the entire bottom is moving in a large pattern that tends to be a triple bottom.
2. There are two waves of rise in the entire oscillation zone. The second wave of bullish volume is greater than the first wave of bullish volume, which shows that the power of bulls is getting stronger.
3. In the second wave of decline, the overall short volume is also enlarged compared with the first wave of decline, which shows that the power of bears is also getting stronger.
4. Although there is no stop-loss signal in the second wave of decline, the volume of shorts is shrinking, and there is a support level below.
5. The high point of the entire bottom is gradually rising.
Through the above analysis, it can be judged that the bulls are slightly stronger than the bears in the entire bottom oscillation range, and it is near the support level. Once a stop-loss signal appears, it is the time to enter the market in the medium term.
Although FIL's fundamentals have lost their competitive advantage, there is still no problem with short-term and medium-term. After all, there are still many people who have hope for it and the consensus is still there.
Whether it is short-term or medium-term, you must know how to stop when you see good. FIL is different from other coins. The locked-in disk above is too heavy. As long as it rises, someone will leave the market. Long-term trading of FIL is not recommended. The previous article has been emphasizing that my personal opinion is that I am not optimistic about how well FIL can perform. Anyone who has bought a mining machine knows the reason, so I won’t say more here.
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