Filecoin / USD / BTC - Regaular bullish divergence

2021年7月22日

On the above daily chart a ‘incredible buy’ opportunity now exists following a 80% correction since April with oversold condition (orange column). Why bullish?

1) Price action breaks out of resistance to find support.

2) Regular bullish divergence. Lower lows in price action with RSI and MFI higher lows. There is actually 8 oscillators showing bullish divergence with price action at this time, but for the sake of keeping the chart clutter free they are not all shown here.

3) Stochastic RSI is crossing up 20. The green shaded area only occurs when high probability of uptrend exists - look left.

4) Price action against BTC on the daily chart (below) is also showing similar oversold conditions with ‘incredible buy’ opportunity. Excellent.

5) The 10-day chart (bottom) is currently testing support on past resistance.

Is it possible price action falls further? Sure.

Is it probable? Very unlikely. Excellent risk/reward ratio at this time.

Good luck!

WW

FIL / BTC daily chart:



10-day chart:

2021年7月23日

交易進行

Support confirmed, safe to go long now - 1st target $60

2021年8月1日

交易進行

Target reached, but not over. The weekly FIL / BTC chart is looking incredibly bullish.

2021年8月6日

註釋

$60 target reached.

2021年8月11日

註釋

60% return thus far. On the daily chart below following the recent move up Stochastic RSI now crossing down suggesting (red shaded area - look left) price action either move sideways or taps a dip down to the 21-day EMA.

2021年9月4日

交易進行

110% so far, no sell signals yet.

2022年11月23日

交易進行

Strongest signal to date prints.

2023年1月25日

交易進行

2023年2月17日

註釋

GRM support confirmed.

2024年6月9日

交易進行

Excellent, on the same support as February with confirmation.

1月12日

註釋

In request for an update...

Price action trades under resistance following a sell signal print around $8 in early December.
Price action corrected 70% previously on this time frame.
Will that happen again? Possibly however support on the monthly is a 50% correction away, so perhaps not the full 70%.

Regardless, do not open a long position while price action trades under resistance, it is reckless and smacks of emotion.


2 day chart