Applying the 3 peaks/3 troughs model and MACD + RSI divergence to Filecoin (FIL)

Current data of FIL: • Price: 5.09 USD • Nearest resistance: $5.25 • Nearest support: 5.00 USD • Trend: Accumulating around the low price area, but potential reversal if overcoming resistance or breaking support.

Analyze the Triple Bottom pattern Identify the 3 bottoms model:
Three equal horizontal stripes: • The price has formed a strong support area around 5.00 USD, which could be the third bottom if the price does not decline further. • Previous bottoms at around 5.00 USD also provide a foundation for the possibility of forming a pattern.
Resistance is at the 5.25 USD level: • If the price surpasses this zone, the probability of an increase will be very high.
Trading volume: • Watch for a sudden increase in volume as the price approaches the resistance area. Combine MACD and RSI: • MACD: • Currently, if the MACD histogram shows positive signs (transitioning from negative to positive), this is a potential bullish signal. • When the MACD line crosses above the signal line, it will confirm an uptrend. • RSI: • RSI is in the neutral zone (40-50). If RSI rises above the 50 threshold, this is a sign of buying strength returning. Trading strategy: • Buy at: When the price breaks the resistance of 5.25 USD with large volume and MACD/RSI signals in agreement. • Stop loss: Set below 5.00 USD. • Profit target: Price target of 5.50-5.75 USD, or measure the height from the bottom to the resistance (about 0.25 USD).
Analyzing the Triple Top pattern Identify the 3-peak model:
Three equal peaks: • If the price continuously touches the $5.25 area without being able to break through, there is a possibility of forming a triple top pattern. • The main support zone is at $5.00.
Break support: • When the price breaks below 5.00 USD, the triple top pattern will be completed, indicating a downtrend. Combining MACD and RSI: • MACD: • If the MACD line crosses below the signal line and the histogram turns negative, it confirms a downtrend. • RSI: • RSI below 40 will reinforce the bearish signal. Trading strategy: • Short selling: When the price breaks the 5.00 USD support with increasing volume. • Stop loss: Set at 5.25 USD. • Take profit: Target price of 4.75 USD or lower (measured from the peak to the support, measured down to the breakout point).
Signals to monitor for FIL • MACD positive divergence (Bullish Divergence): • If the price forms a horizontal bottom at 5.00 USD but the MACD histogram forms a higher bottom, this is a strong bullish signal. • Positive RSI divergence: • If RSI increases while the price remains at 5.00 USD, this is a positive sign. • MACD negative divergence (Bearish Divergence): • If the price approaches the 5.25 USD area but the MACD forms a lower peak, this is a sign of decline. In conclusion: • If the FIL price breaks the 5.25 USD area with positive signals from MACD and RSI, this is a good buying opportunity with the price target increase. • If the price breaks the $5.00 support, combined with a bearish divergence signal, consider short selling. If you have specific charts or real-time data, I can support more detailed analysis!