Trade Setup for #FIL/USDT ๐๐:
๐ Pattern: Channel Down
๐ Breakout: Confirmed, signaling a potential Bullish upswing
๐ฏ Target: $6.40 (+22% gain)
โ๏ธ Stop Loss: $4.60 (prior swing low)
๐ Pattern Analysis: Bullish breakout from a Channel Down pattern, often leading to rapid price movements. Traders can initiate trades based on emerging or complete patterns, waiting for breakouts through trendlines.
๐ Trend: Downtrend on Medium-Term basis and Uptrend on Short- and Long-Term basis.
๐ Momentum: Mixed, with MACD Line above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral).
๐ช Support/Resistance: Nearest Support Zone at $5.00, followed by $4.20. The nearest Resistance Zone is $6.40 (previous support), with potential resistance at $8.00.
Trade wisely and stay adaptable! ๐๐
