If you are still market buying green breakout candles into local resistance, stop now.
Chasing vertical pumps is the quickest way to end up underwater while disciplined traders wait for pullbacks. Most retail accounts get chopped up simply because they lack the patience to let the entry come to them.
Right now, $FIL is pushing up near $0.79 after breaking out of its hourly consolidation range. Much like previous breakout cycles we saw on $AR and $STORJ, sharp vertical impulses rarely go up in a straight line without retesting prior resistance.
The primary demand zone sits between $0.76 and $0.77. If price retraces into that pocket and confirms support, it offers a far cleaner continuation entry with well-defined risk rather than chasing the current high. Losing that level, however, invalidates the short-term structure.
Are you bidding the retest around $0.76, or do you expect this momentum to push straight through?
#CryptoTrading #Filecoin #Altcoins
Chasing vertical pumps is the quickest way to end up underwater while disciplined traders wait for pullbacks. Most retail accounts get chopped up simply because they lack the patience to let the entry come to them.
Right now, $FIL is pushing up near $0.79 after breaking out of its hourly consolidation range. Much like previous breakout cycles we saw on $AR and $STORJ, sharp vertical impulses rarely go up in a straight line without retesting prior resistance.
The primary demand zone sits between $0.76 and $0.77. If price retraces into that pocket and confirms support, it offers a far cleaner continuation entry with well-defined risk rather than chasing the current high. Losing that level, however, invalidates the short-term structure.
Are you bidding the retest around $0.76, or do you expect this momentum to push straight through?
#CryptoTrading #Filecoin #Altcoins
