MyCryptoParadise_Nathan

FIL: Bullish Breakout Alert! Watch for Confirmation

Long
BINANCE:FILUSDT   FIL / TetherUS
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.

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