FIL: Bullish Breakout Alert! Watch for Confirmation

๐Ÿ’Ž FIL has broken out of a resistive trendline and shown a Change of Character (CHoCH) in the price. Additionally, it has formed an inverse head and shoulders pattern, which is a reversal pattern that increases the probability of bullish moves in the upcoming days.

๐Ÿ’ŽIf the price breaks out above the neckline or the resistance zone, we can expect a bullish move. However, if the price pulls back, it would be prudent to wait for it to come near the demand area, as this could provide a more discounted price for FIL.

๐Ÿ’ŽOn the other hand, if FILUSDT declines below the demand area without showing any bullish signs, it would be wise to ignore it until a clearer market direction emerges. Traders should exercise patience and wait for confirmation before entering any trades.

Do you Want to start trading like a PRO?

Follow a team of traders with 10+ years of experience?


๐ŸŽ–๏ธOr Fully Upgrade Your Trading With Clean strategy, and PRO Crypto Signals ๐Ÿ‘‰

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.