$FIL Identifying a FIL Bullish Flag
A bullish flag pattern forming on Filecoin's (FIL) chart is a technical signal suggesting a brief consolidation within a strong uptrend before a potential continuation higher.
This pattern emerges after a sharp price rally, forming the flagpole. The consolidation that follows is characterized by a slight downward or sideways drift contained within parallel trendlines. A key feature is declining volume during this consolidation phase, indicating a lack of selling pressure.
The pattern is confirmed as bullish when FIL's price breaks out above the upper trendline of the flag. This breakout should occur with a noticeable increase in trading volume and projects a further advance roughly equal to the length of the initial flagpole.
Ultimately, this pattern indicates that FIL's uptrend is pausing to gather strength for its next leg upward.$PIPPIN $POWER
