FLOKI On Track For An 80% Move 🚀
FLOKI has dipped ~16% since it got rejected at the 0.000195 resistance two days ago. However, so far, we are perfectly on track for another 80% upside move.
Here's why 👇
Background 🧵
A few days ago, I posted the chart below and discussed a possible and likely scenario. I explained that after it double bottoms, FLOKI should rebound and attack the first resistance at 0.000195. I also mentioned that this is a good level for a first-take profit target. I brought the level at 0.00035 to the table on a larger scale. Once FLOKI smashes the current resistance, I consider the 0.00035 level the next crucial level—reflecting a potential of 80%.
Step 1 Accomplished ✅
As predicted, FLOKI bounced and tested the 0.000195 level even faster than expected. As mentioned, the token was rejected on the first attempt, which is not uncommon. So far, it has found support at the EMA200 line, which should serve as a base for another attack on the resistance.
How To Play Step 2 🚀
The trade setup is straightforward: Wait for FLOKI to pump above the 0.000195 level. Additionally, we want to confirm the broken resistance on the daily timeframe. Preferably, we wait for a bullish trade signal to strengthen the outbreak further.
Once these prerequisites are fulfilled, we can (almost) safely enter the trade and right the wave to the next resistance. However, since 80% is a long road, adding profit targets on the way up is wise.
