FIL has broken out of its descending trend and in the past two days we did a very nice pump! at 50%!
We are now quickly approaching our resistance at $40. The resistance at $30 had no effect on price. Will this still be the case?
A bit unlikely, because we have pumped quite a bit and momentum needs to be maintained to do that, which seems a bit difficult since $40 is a great level for sellers to step in. We have to wait and see.
I do not recommend buying here unless you plan to scalp. Nevertheless, the indicators are looking very bullish, with all of them expanding up... :)
Bias remains very bullish for now.
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We are now quickly approaching our resistance at $40. The resistance at $30 had no effect on price. Will this still be the case?
A bit unlikely, because we have pumped quite a bit and momentum needs to be maintained to do that, which seems a bit difficult since $40 is a great level for sellers to step in. We have to wait and see.
I do not recommend buying here unless you plan to scalp. Nevertheless, the indicators are looking very bullish, with all of them expanding up... :)
Bias remains very bullish for now.
Like and follow if you liked this idea. Also join my crypto community to stay in touch!
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