The current technical structure of FIL is showing a rare strong signal.
In simple terms, the bears have built a thick "defensive wall" at several key price levels, but they may be digging a pit for themselves.
From the chart, the price has broken through the ongoing downward trend line and has conducted a retest, which is often a sign of quiet accumulation of capital. Currently, market sentiment is not exuberant, and the funding rate remains neutral, which means the market is not "overheated" but instead leaves healthy upward space.
The key point is that a large number of short positions are gathering above levels like $1.47, $2, and $2.4, akin to gaps waiting to be filled. Meanwhile, the strength of the bulls is relatively light; once the price starts to move, these bearish defenses may be forced to close positions, which could accelerate the upward movement and create a chain reaction of "shorts killing shorts."
My observation is that as long as the price can hold support around $1.267, the market's focus will directly point to higher targets of $2, $2.4, and even beyond. The status of open contracts shows that many bears are already showing signs of being trapped. In historical movements, similar structures are often accompanied by rapid and severe fluctuations.
Therefore, I personally strongly believe that FIL is on the verge of a potential explosion. The current pattern is like a spring being compressed, and the liquidity accumulated above by the bears is very likely to become the fuel for future upward movements. Close attention should be paid to the price's response to key resistance levels.
This wave of market activity is not over yet. For more detailed positions and operations, find Qi He, and specific ambush points will be announced in the village! I not only provide signals but will also teach you how to combine technical and news analysis to judge opportunities for yourself, refusing to be a retail trader!
Follow Qi He, + chat room to help you avoid pitfalls, and be the first to analyze subsequent capital trends, seizing every money-making window!
