$FIL Filecoin Might Dump โ ๏ธ๐ | Bearish W Pattern Spotted on Chart ๐ฌ๐
๐ตโ๐ซ Filecoin just flashed a bearish W pattern โ and thatโs not the kind of double bottom bulls want to see. The setup hints at a fakeout rally followed by a deeper move down ๐๐.
๐ป Sell pressure is creeping in, with RSI flattening and MACD showing signs of a bearish crossover ๐๐ป. Momentum is fading fast, and candles are turning red across lower timeframes ๐ด๐ฏ๏ธ.
๐ Volume is thinning, and buy volume is drying up โ clear signs of market uncertainty and exhausted bulls ๐ฅต๐ง. This type of W pattern often signals a trap zone, and those chasing bounces could get caught in a dump spiral ๐ณ๏ธ๐.
๐ณ On-chain, whale distribution is accelerating ๐ฆ๐. Large holders are offloading quietly, and exchange balances are creeping up ๐๐ฆ โ a classic sign of incoming liquidity for selling ๐จ.
๐ฑ Meanwhile, social sentiment is cooling rapidly ๐ถโ๏ธ. Discussions around Filecoin have dropped, and wallet growth is slowing, suggesting fading interest and reduced conviction ๐๐.
โณ If this pattern plays out, Filecoin might revisit lower support zones and sweep recent lows โ especially if overall market conditions remain weak. Donโt ignore the signals โ manage risk aggressively and stay cautious.
๐ชค This could be a fake breakout turning into a nasty breakdown. Patience and protection are key in this kind of environment.
โ ๏ธ Not financial advice โ always DYOR ๐ง ๐