#FLOKI / USDT inverted head and shoulder. What is next?

Updated

CRYPTOCAP:FLOKI gained 20% yesterday, indicating that its previous consolidation phase has ended. Are we going to see more uptrend?

What do we know?

CRYPTOCAP:FLOKI has a motivated team with a roadmap to become the most traded crypto in the world!
CRYPTOCAP:FLOKI has just been listed on Coinbase perp futures, similar to CRYPTOCAP:BONK and PEPE. This shows that it is likely following in their footsteps, albeit a little later; both saw a 50% increase after their listings.
CRYPTOCAP:FLOKI has some utility compared to other memes, with integration into TokenFi, use as the native currency of Valhalla (a metaverse), and other projects.

Regarding the charts, I see an inverted head and shoulders pattern, a bullish signal with a target of 0.0004754, which represents a 65% pump. This aligns with the pumps seen in and CRYPTOCAP:BONK after their Coinbase listings.

I also see a parabolic trend that seems to continue for now.

There is a bearish divergence due to a dump, which pushed down the RSI in the middle of the uptrend. In my opinion, this will not have any lasting effect since it was due to an external, temporary factor, but it needs to be mentioned.

The take profits are the fib extension.

Not a financial advice, DYOR.

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TP at 0.5 and 0.6 fib reached

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TP at 0.7 fib reached

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As you can see in the chart, the pull back was planned. I think that the dump is over. The targets are still valid we will go that high!
Tomorrow, the trading on Coinbase future will start.
Meme coin can have huge pullback, but they also can recover in 30 min, so never panic, just wait.

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Ok so we got all rekt. Big whales have unloaded massively all the meme coins, specially CRYPTOCAP:BONK and CRYPTOCAP:FLOKI
The same day they get listed at Coinbase perp.
What a coincidence.
All is market manipulation. You sell in desperation, they buy.
Then it pumps and you have lost because you will never buy that low.
I think that they dumped to buy at Coinbase at bottom price.
I hold.
They did the same with when Coinbase listed at their future. Institutional are not buying spot.

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Of course it sucks to have your portfolio bleeding temporarily. Patience. Do not break anything. It will be back again.

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Btw, CRYPTOCAP:FLOKI touched my resistance line exactly. Don't say I didn't warned, it is all on the chart.

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CRYPTOCAP:FLOKI has hit the resistance and should rebound. But...
We are at a critical moment now. Either Bitcoin stabilize and we are good for a pump during the week end, or Bitcoin crash to 64k or lower and then, we might be in trouble. This would invalidate my idea.

So let's pray that Bitcoin and ETH will hold and do not drag the whole crypto more down.

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So far so good, CRYPTOCAP:FLOKI has bumped on my support parabolic line, which means that for now the idea is playing as planned.
We are in re-accumulation.

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Today CRYPTOCAP:FLOKI (152M) has more volume on Binance than (135M) or SHIBA (130M). BTC keep crashing, someone has a lot of BTC to sell. Hopefully this should stop for the week end. These fat cats are playing Golf on Sunday. The sellout will resume on Monday.

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CRYPTOCAP:FLOKI is following the parabolic trendline with a remarkable accuracy. Also doing a bullish divergence on the RSI, and finally is in a raising wedge pattern consolidation. Lot of bullish signals.

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CRYPTOCAP:FLOKI has broken down the parabolic curve to the downside. Not a good sign.
CRYPTOCAP:BONK, , are also very bearish, it is a global state of the market. Is it quiet before the storm? What direction will take?

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I must say that all the altcoins are hit pretty badly at the moment, and this idea is invalidated, I hope it is temporary, so I keep the trade open. Need to see if it can recover or if the bear situation for all the alts (apart some exceptions like or JASMN) will continue. The bleeding is impressive for no particular reason since BTC is still holding above 67k and is not showing a risk losing its support. Some people are FUD about next week, Monday and scare that would dump to 65k. That is my guess atm. I hope that CRYPTOCAP:FLOKI can go back above $0.0002400 quickly.

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CRYPTOCAP:FLOKI with the help of managed to re-integrate the parabolic ascending support, and broke up the descending triangle formation! Doing +7% at the moment and outperforming all major meme and altcoins! The indicators are looking bullish even the daily MACD is about to cross!
is battling against its 2021 ATM and does not seems to be rejected, if it goes above 70k and make it a support, we are heading to a major move up...
If rejected, it will drag all the alts to bleed again but temporary.
CRYPTOCAP:FLOKI shows an amazing capacity to recover.

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CRYPTOCAP:FLOKI to the moon, followed the plan with a remarkable accuracy, reached 0 fib that was my top target. Enter in price discovery. Be careful because it will pull back of course so do not forget to take profit and control your greed!

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All the ocilators are reset, and the 1H is showing sign of turning bullish again. This is sign of possible continuation of the yesterday pump. It is a probability, not certain. But it looks like a possible scenario. Maybe it is not finished yet.
Daily, and weekly are still extremely bullish.

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At 0.0003000 CRYPTOCAP:FLOKI start to be cheap again. This coin is not exhausted yet.

Trade closed: target reached

A sudden drop in price has cancelled this long term plan. We have reached all targets up to 0.1 fib which is great. A new setup is necessary, since the market conditions have changed drastically in the past hours.

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New setup is coming. Follow me to not miss it

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New setup is here:

CryptoNikkoid

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