Market Update: $FOLKS 📊
Suggested Direction: Short
Entry: 1.5869-1.6352
Stop Loss Reference: 1.6740
Target Prices: 1.5493/1.4956/1.4150
Analysis: Damn FOLKS, this move really caught me off guard, looking at the current price of 1.603 is just exhausting. The moving averages have crossed bearish + MACD is in a death cross, double whammy. RSI is at 37 and it’s stuck in the middle, clearly waiting for retail traders to take the bait before dumping it down. I should've seen it coming, that 1.61 EMA long-term line is a total trap, the market makers are grinding it down below 1.60 before making a big move, it’s like fishing. Right now, going short is obvious, but the stop loss needs to be at 1.674, just worried it might spike back up and hit us with another wave down, specifically targeting those high-leverage traders. Don’t talk to me about support levels; if this bear can hold 1.55, I’d consider that a win. If you're looking to jump in, weigh your stop loss carefully, I sure wish I had bailed out sooner.
Tip: Recommended Stop Loss Level: 1.674000, please adjust your position size according to your own risk preference
#FOLKS
Suggested Direction: Short
Entry: 1.5869-1.6352
Stop Loss Reference: 1.6740
Target Prices: 1.5493/1.4956/1.4150
Analysis: Damn FOLKS, this move really caught me off guard, looking at the current price of 1.603 is just exhausting. The moving averages have crossed bearish + MACD is in a death cross, double whammy. RSI is at 37 and it’s stuck in the middle, clearly waiting for retail traders to take the bait before dumping it down. I should've seen it coming, that 1.61 EMA long-term line is a total trap, the market makers are grinding it down below 1.60 before making a big move, it’s like fishing. Right now, going short is obvious, but the stop loss needs to be at 1.674, just worried it might spike back up and hit us with another wave down, specifically targeting those high-leverage traders. Don’t talk to me about support levels; if this bear can hold 1.55, I’d consider that a win. If you're looking to jump in, weigh your stop loss carefully, I sure wish I had bailed out sooner.
Tip: Recommended Stop Loss Level: 1.674000, please adjust your position size according to your own risk preference
#FOLKS