Long

Floki Flying To New All Time High By October

Price has broken out from it's 75 day falling wedge pattern & given a retest.
A hidden bullish divergence on the weekly time frame provides confluence to the setup.

TP targets
180% - to current ATH & top of the Wedge
235% - to the 1.272 Fib

BONK/USD played out a very similar setup in Dec 2023, hitting a new ATH roughly a month after the initial breakout.

Cheers

BB

Note

I failed to notice that Floki had actually broken down from a parallel channel, retested so looks imminent to test the middle channel of the lower before heading back up. This coincides with the bottom of the Wedge so we're looking at a 40% drop before heading up.

Makes sense with the pre bull capitulation which is imminent. The only thing that invalidates this is if price manages to break back into the other channel.

Note

Blockbullder

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