FLOKIUSDT, the cryptocurrency based on the Shiba Inu-inspired meme token, has been showing signs of bullishness recently, with the emergence of a W pattern on its price chart. This pattern is a technical analysis pattern that often indicates a potential trend reversal.
Based on the W pattern, we can expect some retracement till the Retest Zone at $0.0000033452, which is the point where the price initially bounced back up after the first dip in the pattern. This retracement is a common occurrence after the formation of a W pattern, as traders take profits and the price consolidates before the next bullish move.
Once the price reaches the Retest Zone, we can expect the price to potentially bounce back up and continue its bullish trend towards the target of $0.000040315. This target is based on the height of the W pattern, which is the distance between the lowest point of the W and the middle peak, added to the middle peak.
Based on the W pattern, we can expect some retracement till the Retest Zone at $0.0000033452, which is the point where the price initially bounced back up after the first dip in the pattern. This retracement is a common occurrence after the formation of a W pattern, as traders take profits and the price consolidates before the next bullish move.
Once the price reaches the Retest Zone, we can expect the price to potentially bounce back up and continue its bullish trend towards the target of $0.000040315. This target is based on the height of the W pattern, which is the distance between the lowest point of the W and the middle peak, added to the middle peak.
Trade closed: target reached
