1000FLOKI/USDT Breaks Out of Bullish FlagFloki USDT has broken out of the bullish flag pattern and retested the breakout level. The price could reach an all-time high (ATH) and potentially surpass it.
1000FLOKIUSDT
Floki Is Ready For New ATHFloki/USDT is currently trading within a defined range, forming a box setup on the chart. This indicates a consolidation phase, where the price is accumulating strength for the next significant move.
Box setup details:
- Support (bottom of the box): This level acts as the accumulation zone, where buyers typically step in. Ideal for entries during pullbacks.
- Resistance (top of the box): This is the breakout level. The price needs to close above this area on higher timeframes to confirm a bullish continuation.
Trading strategy:
1. Entry strategy:
- For spot trades: Enter near the support level within the box. Hold patiently for potential upside.
- For leverage trades: Use lower leverage and wait for the price to either bounce off the support zone or confirm a breakout above the resistance with volume.
2. Targets:
- First target: 20-30% (if the price moves to the midpoint of the box).
- Second target: 50% (if the price nears resistance).
- Final target: 100% or more after a confirmed breakout.
3. Stop-loss:
Place your stop-loss slightly below the support zone to protect against downside risk in case of a breakdown.
4. Breakout confirmation:
A breakout above the top of the box, confirmed with increased volume and a strong candle close, can lead to a powerful rally.
Remember, patience is key with box setups. Always manage your risk and trade responsibly.
FLOKI is in the middle of correctionFrom the place where we placed the red arrow on the chart, it seems that FLOKI's correction has started.
This correction looks like a big diametric as we are now in wave D of this diametric.
From the red range, we expect a downward price rejection.
Closing a daily candle above the invalidation level will violate this analysis.
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
FLOKI IS TO MAKE 50% UP MOVEFLOKI, being a meme coin, is totally dependent on BTC and moving same as BTC, after breakout of BTC, FLOKI would fly like a crazy.
