๐๐ฎ๐ฅ๐ฅ๐ข๐ฌ๐ก ๐๐ฎ๐ญ๐ฅ๐จ๐จ๐ค ๐๐จ๐ซ ๐ ๐ข๐ฅ๐๐๐จ๐ข๐ง($FIL ) ๐
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 thereโs 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 moveโwhether it will make another leg down or continue to rallyโit'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.
