Here we have a classic reversal sequence. Notice the consolidation pattern (black) that leads to a breakdown (blue), this is normally followed by a trend reversal.
Filecoin (FILBTC) hit bottom and is very likely to turn soon, really soon.
We are seeing all the signals that support this conclusion. A very strong bullish divergence with the RSI, since April 2024. The exact same with the MACD.
We can also see the strong rise in trading volume before the breakdown phase. This also indicates that buyers were anxious to enter the game since early 2024. The breakdown is the market owners taking up liquidity but after this breakdown the potential for a bullish wave strengthens.
We are likely to see FILBTC grow next.
Thank you for reading.
Namaste.
