Technical analysis of the current picture:
$FOLKS trades at $13.816, up 16% over 24 hours. Volumes have surged sharply, the candle has engulfed the previous three days – a classic sign of accumulation by a major player. RSI on the daily is 65 – a strength zone, but still far from overbought (there's room to grow at least up to 80–85). Support formed at $12.20–12.50 (mirror level + 50% Fibonacci from the last impulse).
Bullish scenario (currently assessing probability at 70%):
Break and consolidation above $14.20–14.50 will open the way to $16.50 (next historical high) and then $19–21 in the medium term.
Entry: from current levels or better on retest $FOLKS $13.50–13.70
TP1 – $15.80 | TP2 – $17.20 | TP3 – $19.50
SL – $13.15 (about 4–5% of the entry, below the support zone)
After taking TP1, definitely move SL to breakeven.
Bearish scenario:
Pullback on false breakout $14.50 and return below $12.80. Then the target is $11–11.50.
Short entry: $FOLKS under $12.70
TP $11.30, SL $13.30.
I recommend risking no more than 1–2% of the deposit per trade!
Who is already in position for FOLKS – comment: your target and entry point?
Subscribe – here you will find only quality analytics and ready trading plans that provide a real advantage. Plus copy trading right in the profile – just copy and earn with me!
