【$FIL Signal】Hold Off on Opening Positions — Downward Correction, No Valid Support Seen

$FIL After breaking below EMA20, the price has continued to decline steadily, currently in a downtrend channel, with no clear reversal signals indicating a bottom.
🎯Direction: No Position (NoPosition)
Market Analysis: The 4H chart shows consecutive bearish candles, with weak buying pressure (Buy/Sell Ratio < 0.5). The price has moved far away from EMA20 (0.9271) and is under pressure from EMA50 (0.9810), indicating a predominantly bearish trend.
Hardcore Logic: Although RSI (36.49) indicates oversold conditions, the funding rate remains positive (0.0065%), and open interest is stable, ruling out a short squeeze rebound. The order book imbalance (18.93%) shows accumulation of sell orders, and the latest candlestick shows buy volume share at only 0.49, suggesting persistent selling pressure.
Key Observation: The price needs to break above and stabilize above 0.915 (a recent minor resistance level) to initially reverse the short-term downtrend. Although there is buy-side depth below (Bid/Ask Ratio 1.47), most are passive orders, lacking active buying momentum, so it’s not advisable to bottom fish on the left side.
Trade here 👇 $FIL
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