$FOLKS
Family, listen up! If you are still staring at the K-line chart of FOLKS and want to buy the dip, I must pour a bucket of cold water on you; this is not an opportunity, it’s a trap! As an analyst who has been in the crypto space for many years, I can see the dangers behind this at a glance. Today, I will use my expertise to break down this 1-hour chart for you; by following my rhythm, you can avoid liquidation and seize the real 'meat' market!
Look at this chart: the price is on a downward trend, the Bollinger Bands are opening downwards, like a huge blood basin ready to swallow the bulls at any moment! The MACD indicator is even more heartbreaking; the DIF line is firmly pressed below the DEA line, and the green bars are continuously expanding, which clearly indicates that the bears are having a party, and the bulls have no chance to catch their breath. From the data, the opening price is 4.883, closing at 4.884, with a change of 0.00% and a volatility of 2.68%. It seems calm on the surface, but there are undercurrents surging. The upper Bollinger Band is at 6.058, the lower band at 4.507, and the current price of 4.884 is close to the lower band, indicating tremendous downward pressure and a potential breakdown at any moment. The MACD's DIF value is 0.124, and the DEA value is 0.061, but the MACD bar is -0.125 and negative. This expansion of the green bars is solid evidence of strengthening bearish momentum! More critically, on-chain data is dead silent, with no signs of large investors buying the dip, and funds are continuously flowing out. The news front is even colder: no good news from the project party, and market sentiment has plunged into an ice cellar. In this environment, blindly entering the market is just giving money to the bears!
My view is straightforward: now is absolutely not the time to act! The bearish forces are strong, and there are no reversal signals at all. If you impulsively buy the dip, you will only be trapped at the bottom. Remember, in the crypto space, patience is more important than courage. I am closely monitoring the market, and once there is a large buy on-chain or a technical divergence appears, I will call it out immediately. But until then, just wait and see! Don’t let greed blind your eyes; the real 'meat' market often erupts after despair.
Hurry up and follow me @币圈罗盘 , like and save! I will continuously use real trading data and technical analysis to help you capture the best entry opportunities. Don’t wait until the market takes off to regret it; act now and follow the strong players, and let's feast in the crypto space together!