My view on $FIL right now: cautiously bullish
The setup: FIL is at ~$1.00, up 8% in 24h on $170M+ volume, and up 38% in 30 days. On October 15, the 6-year Protocol Labs + Filecoin Foundation vesting schedule ends, cutting gross FIL issuance by an estimated ~75%.
Narrative check: Square is euphoric, with triple-digit price targets all over the feed and sentiment at 89% bullish. The direction has real support, but this much euphoria is a classic late-cycle warning sign.
My view: the supply catalyst is real and dated, which is rare and worth respecting. But with long-heavy positioning and a euphoric crowd, I would rather not chase $1.00 — scenario lean 50/25/25 bull/bear/neutral, favoring patience over FOMO.
Not financial advice. DYOR.
#FIL #Crypto #BinanceSquare
The setup: FIL is at ~$1.00, up 8% in 24h on $170M+ volume, and up 38% in 30 days. On October 15, the 6-year Protocol Labs + Filecoin Foundation vesting schedule ends, cutting gross FIL issuance by an estimated ~75%.
Narrative check: Square is euphoric, with triple-digit price targets all over the feed and sentiment at 89% bullish. The direction has real support, but this much euphoria is a classic late-cycle warning sign.
My view: the supply catalyst is real and dated, which is rare and worth respecting. But with long-heavy positioning and a euphoric crowd, I would rather not chase $1.00 — scenario lean 50/25/25 bull/bear/neutral, favoring patience over FOMO.
Not financial advice. DYOR.
#FIL #Crypto #BinanceSquare