Filecoin Short-term Targets
Updated
Quick post - Filecoin broke out of a falling wedge on the daily and is headed towards the 200 day EMA and wedge breakout TP 1 if it can get and hold above the EMA.
Conditioned upon reaching the falling wedge breakout's TP 2 @ ~$10.70, which would take it above previous high of ~$9.75, that opens up the possibility for new targets for a double-bottom recovery.
Get and hold above 9.75 and we have a confirmed double-bottom targeting $14.58 and then approx $17.
Short-term chart here, but I've previously posted a much larger falling wedge breakout that happened quite some time ago but has been consolidating ever since. That possibility still exists should everything above occur and DXY doesn't turn back up shortening recoveries across markets. If conditions remain favorable, we could see a double-top on the HTF chart. See link to related idea below:
This fell further than expected and has consolidated further than expected, but is still possible given the considerations mentioned above:
Conditioned upon reaching the falling wedge breakout's TP 2 @ ~$10.70, which would take it above previous high of ~$9.75, that opens up the possibility for new targets for a double-bottom recovery.
Get and hold above 9.75 and we have a confirmed double-bottom targeting $14.58 and then approx $17.
Short-term chart here, but I've previously posted a much larger falling wedge breakout that happened quite some time ago but has been consolidating ever since. That possibility still exists should everything above occur and DXY doesn't turn back up shortening recoveries across markets. If conditions remain favorable, we could see a double-top on the HTF chart. See link to related idea below:
This fell further than expected and has consolidated further than expected, but is still possible given the considerations mentioned above:
Note
Quick update - note about OBV spiking higher than a previous stronger move up:
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