FLOKI — Still In The Waiting Zone

Floki's attempts to reconquer the previous support level at 0.000135 haven't been unsuccessful. When looking at lower timeframes, such as the 4H chart, Floki ranges sideways in a consolidation mode.

However, as discussed in previous posts, reclaiming the 0.000135 level, followed by confirmation on a higher timeframe, such as the daily chart, is crucial before entering a long trade.

Once this happens and the market keeps its bullish momentum, there's a good chance the Floki can pump to 0.0002 quickly, resulting in 40% gains. However, it might be wise to partially take profits at 0.000165 and move the stop loss accordingly. The initial stop loss can be placed tightly below the entry of 0.000135.

I will definitely keep watching the chart and put together an update in case our entry level has been reached.