𝐁𝐮𝐥𝐥𝐢𝐬𝐡 𝐎𝐮𝐭𝐥𝐨𝐨𝐤 𝐟𝐨𝐫 𝐅𝐢𝐥𝐞𝐜𝐨𝐢𝐧($FIL ) 🚀
With Bitcoin potentially set for a bounce in the coming days, this could present a favorable entry point for Filecoin. The 1-hour chart is showing early signs of bullish price action, and there’s a potential bull flag pattern forming on the lower timeframes. Should we see a solid reaction at the 0.618 or 0.786 Fibonacci levels, we could witness Filecoin breaking out of its current trend.
For those looking to take a more aggressive position, entering at the 0.786 Fibonacci retracement level with a stop loss below the previous low could be an option. Alternatively, waiting for a confirmed breakout and entering on the retest would provide a safer strategy. Both setups would position us to capitalize on potential upward movement.
Given the uncertainty around Bitcoin's next move—whether it will make another leg down or continue to rally—it's crucial to keep stops tight. While the setup looks promising, caution is necessary until we see further confirmation from the broader market. Always ensure risk management is a priority while navigating volatile conditions.
