✳️ FIROBTC | Growing 1st Time Since 2017 (Name Your Altcoin #47)

16 de fev. de 2023

FIRO Has been dropping since December 2017, which can be seen as either bad news or really good news.

The negative side is for those who decided to hold all the way down.
The positive side, the good news, is that there can't be that many sellers around...

Since the December 25, 2017 All-Time High, FIROBTC has gone through a 99.66% correction. In essence, it lost all of its value in the past 1596 days (4.37 years).

To me, this is all positive.

A low was hit in January 2021 and after more than 1.3 years this low/support failed and a lower low hit.
After this lower low a strong recovery took place and now FIROBTC is trading back above the January 2021 support level.

Last week we saw the second highest volume in the history of this pair as prices moved above EMA50.
The highest volume ever happened in July 2022.

Above the January 2021 and the May 2022 lows, we can expect long-term bullish growth.

It is hard to figure out how far up it can go...
Since this pair has been going through a different cycle compared to the altcoins we look at.

Mid to long-term we can see 500% to 1235%.

The long-term varies wildly, it can be this year just as it can be mid to late next year... We need time to see how it will all develop but the bullish potential is now clear after the new All-Time Low has been confirmed.

Once we hit bottom, the only place left to go is up.

Namaste.

P.S. The chart came out a bit messed up... Just hit zoom in, the "+" sign on the chart, to get a better view.