【Long-term, short-term and market of FIL】
Let’s look at the weekly chart of FIL first, Figure 1.
First, we assume that the trend in the range of 2.4~11.5 is the accumulation stage after the market turned bearish in 21 years.
Then we can see that since the last bull market, FIL has fallen by 97%;
Now that the big cake has hit a new high and repeatedly broken 7w, FIL has not yet completed the accumulation stage, which is a weak signal.
For such a weak target, we should lower our expectations for it.
From a technical perspective, the current key support below is 4.8. If 4.8 can’t hold up, it will go to around 3, or even return to zero.
The long-term layout can be defended at 4.8.
Then look at the small level, Figure 2.
The current price is doing a triangle consolidation, and it may evolve into a rectangle consolidation if it is a little worse.
In terms of operation, you can wait for the breakthrough of the triangle and then do more on the right side. The current corresponding breakthrough position is 6.16
The key upward targets are 6.7 and 8 first
Extended from FIL.
In fact, many copycats are now of similar nature, and they urgently need the market to go well and stabilize in order to create a good environment.
The price is tight, and the time is also tight, otherwise these copycats have really retreated without a basis.
From this perspective, the probability of a big correction in the short and medium term is relatively low.
A big correction refers to a drop of more than 10%. For example, if the price of the bitcoin falls to about 6w again, the probability is no more than 30%.
As for me personally, of course my butt determines my head, and I hope it will rise.
After all, since mid-April, I have received a lot of bitcoin ether at a low level, and I have been holding it without moving it, and the daily funding fee is painful.
My personal first target for bitcoin going up is 8w4.
