#FLOKISKYROCKET IS Going on Fire🔥🔥🔥
### **Key Observations:**
1. **Trend Direction**:
- The price experienced a strong upward movement but is now pulling back, as shown by the recent red candles.
- The Moving Averages (MA):
- MA(7) (yellow line) is sloping downward, indicating short-term weakness.
- MA(25) (pink line) and MA(99) (purple line) are below the current price, showing an overall bullish trend.
2. **Volume Analysis**:
- Significant green volume bars during the initial rise suggest strong buying momentum.
- The red volume bars in the latest candles imply increased selling pressure.
3. **Support and Resistance**:
- Immediate support is around **0.00025344**, which aligns with previous consolidation levels.
- Resistance is near the recent high of **0.00029000**.
4. **Indicators**:
- The MACD (not shown directly but typically considered) likely shows a bearish crossover with the decline in momentum.
- The bid/ask ratio indicates more buying interest (61.94% bid vs. 38.06% ask).
5. **Profit/Loss Signal**:
- If you’re holding a long position from lower levels, the profit may decrease as the price retraces.
- Entering a trade now carries risk due to the short-term bearish correction. Watch for a bounce near the support zone for potential buy signals.
### **Trading Plan**:
- **For Buyers**: Wait for a confirmation candle (green) near support (0.00025344).
- **For Sellers**: If the price falls below the MA(25) or fails to hold above 0.00025344, further downside is likely.
Risk management is key; ensure stop-loss levels are set appropriately to minimize potential losses. Let me know if you'd like additional clarification! #COSSocialFiRevolution $FLOKI