FIL is currently transitioning from a strong descending channel structure into a compression phase. After the sharp selloff inside the blue descending channel, price found support near 0.80 and started forming higher lows, signaling short term stabilization.
Now price is trading inside a tightening structure between a rising orange trendline support and a descending red resistance trendline. This creates a symmetrical compression zone, typically a precursor to expansion.
The key support sits around 0.893 to 0.900. As long as this level holds, buyers maintain short term control. Immediate resistance is near 1.02, followed by 1.159, which aligns with higher timeframe structure.
If price breaks above the descending resistance and reclaims 1.02 with strong momentum, upside targets toward 1.30 and potentially 1.50 come into play, aligning with the broader dashed macro trendline.
However, if 0.893 fails and price breaks below the rising support, a deeper pullback toward 0.80 becomes likely before any bullish continuation attempt.
Right now this is a decision zone.
Break upward confirms structure shift.
Break downward keeps the broader bearish pressure active.
Now price is trading inside a tightening structure between a rising orange trendline support and a descending red resistance trendline. This creates a symmetrical compression zone, typically a precursor to expansion.
The key support sits around 0.893 to 0.900. As long as this level holds, buyers maintain short term control. Immediate resistance is near 1.02, followed by 1.159, which aligns with higher timeframe structure.
If price breaks above the descending resistance and reclaims 1.02 with strong momentum, upside targets toward 1.30 and potentially 1.50 come into play, aligning with the broader dashed macro trendline.
However, if 0.893 fails and price breaks below the rising support, a deeper pullback toward 0.80 becomes likely before any bullish continuation attempt.
Right now this is a decision zone.
Break upward confirms structure shift.
Break downward keeps the broader bearish pressure active.
Market Structure • Price Action • Crypto Updates
🔗 Telegram: t.me/Coach
🔗 Telegram: t.me/Coach
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La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
Market Structure • Price Action • Crypto Updates
🔗 Telegram: t.me/Coach
🔗 Telegram: t.me/Coach
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.