$FIL reclaims $0.72 this week or I'm wrong about this setup.
Sitting at $0.6692 after a -1.9% dump in the last 4 hours. RSI at 40, which is cooked but not panic-sold yet. Volume's dead (0.8x the 20d avg) so no conviction either way. That's the setup I like. 📉
Price is 15% off the 30d high and bleeding below both the 20d and 50d MA. Bears have been in control. But funding's barely positive at 0.001% , longs aren't getting squeezed yet, they're just asleep.
If we hold $0.65 into the weekend I think we get a relief bounce to mid-sevens. If we lose it we're going lower and I'll admit I timed this terribly. 🎯
What's your line in the sand?
#FIL #Altcoin
Sitting at $0.6692 after a -1.9% dump in the last 4 hours. RSI at 40, which is cooked but not panic-sold yet. Volume's dead (0.8x the 20d avg) so no conviction either way. That's the setup I like. 📉
Price is 15% off the 30d high and bleeding below both the 20d and 50d MA. Bears have been in control. But funding's barely positive at 0.001% , longs aren't getting squeezed yet, they're just asleep.
If we hold $0.65 into the weekend I think we get a relief bounce to mid-sevens. If we lose it we're going lower and I'll admit I timed this terribly. 🎯
What's your line in the sand?
#FIL #Altcoin