Floki Is Ready For New ATH
2024-12-09
Category: gaming

Floki/USDT is currently trading within a defined range, forming a box setup on the chart. This indicates a consolidation phase, where the price is accumulating strength for the next significant move.

Box setup details:  
- Support (bottom of the box): This level acts as the accumulation zone, where buyers typically step in. Ideal for entries during pullbacks.  
- Resistance (top of the box): This is the breakout level. The price needs to close above this area on higher timeframes to confirm a bullish continuation.  

Trading strategy:  
1. Entry strategy:  
   - For spot trades: Enter near the support level within the box. Hold patiently for potential upside.  
   - For leverage trades: Use lower leverage and wait for the price to either bounce off the support zone or confirm a breakout above the resistance with volume.  

2. Targets:  
   - First target: 20-30% (if the price moves to the midpoint of the box).  
   - Second target: 50% (if the price nears resistance).  
   - Final target: 100% or more after a confirmed breakout.  

3. Stop-loss:  
   Place your stop-loss slightly below the support zone to protect against downside risk in case of a breakdown.  

4. Breakout confirmation:  
   A breakout above the top of the box, confirmed with increased volume and a strong candle close, can lead to a powerful rally.  

Remember, patience is key with box setups. Always manage your risk and trade responsibly.