Filecoin - Imaginary Bearish Harmonic
As a result of the dramatic Head and Shoulders Breakdown, this potential "Future" Technical Analysis presented itself to me.
I would surmise that Filecoin will retrace in the coming months to around Price Targets: $8.5(Minimum) - 10.75(Maximum) [Point B], before correcting back down to the Main Trendline around Price Target: $5.75 - $6 [Point C], whereupon if positioning holds would rally throughout the EoY to Price Target: $17 [Point D].
This would complete the Full Bearish Harmonic and would also be testing (from the underside) The Extended Neckline from the recent and dramatic Head and Shoulders Breakdown.
I personally am planning on following trade in this patterning [Light Long Point A]/[Light Short Point B]/[Moderate Long Point C] and essentially placing a Larger Short upon completion of the patterning at [Point D].
This is purely speculative.
This is not financial advice.
Good Luck and Happy Trading,
Mr. Storm
I would surmise that Filecoin will retrace in the coming months to around Price Targets: $8.5(Minimum) - 10.75(Maximum) [Point B], before correcting back down to the Main Trendline around Price Target: $5.75 - $6 [Point C], whereupon if positioning holds would rally throughout the EoY to Price Target: $17 [Point D].
This would complete the Full Bearish Harmonic and would also be testing (from the underside) The Extended Neckline from the recent and dramatic Head and Shoulders Breakdown.
I personally am planning on following trade in this patterning [Light Long Point A]/[Light Short Point B]/[Moderate Long Point C] and essentially placing a Larger Short upon completion of the patterning at [Point D].
This is purely speculative.
This is not financial advice.
Good Luck and Happy Trading,
Mr. Storm
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