FLOKI/USDT – 1H – SELLThe currency pair Floki/Tether (FLOKI/USDT) jumps from the bearish trendline downwards
A continuation of the downward movement downwards to the next support level at 0.000095380 will continue.
Caution: A possible counter-trend in the direction of the resistance line at 0.000098820 is within the realm of possibility.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend will continue. Current target is 9.452E-5 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support zone at 0.000098820 is within the realm of possibility.
Consider stop-loss settings accordingly.
In addition a ‘Shooting Star’ chart pattern is found. The chart shows ‘Shooting Star’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Shooting Star’ heading down is 59% (Bull Market) & 60% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.000108570 |
| 2nd High | 0.000100040 |
| Next High | 0.000098820 |
| Current Price | 0.000096990 |
| Next Low | 0.000095380 |
| 2nd Low | 0.000094340 |
| 3rd Low | 0.000090170 |
0.000098820 – 0.000100040 – 0.000092770 – 0.000095380 – 0.000094340 – 0.000090170 — 46.119379647156 – 46.036214879534
Trading Signals: CRYPTO – FLOKI – FLOKI/USDT – USDT – Shooting Star – Double bottom retreat down – –