Floki (FLOKI) Market Update & Trade Plan
Floki is currently showing strong bullish momentum with no immediate signs of weakness. The recent breakout above February’s swing high signals strength, and price is approaching the next key resistance around 14,851 — which aligns with the 100% Fibonacci extension level and the late January swing high. This area is a critical milestone to watch.
Wave Structure Summary:
The chart suggests we are currently in Circle Wave A of a larger ABC structure.
While the move up can be counted as five waves, there's also a valid case for a three-wave pattern, which is common in crypto during bullish phases.
A pullback (Circle Wave B) is expected after topping out near 14,851, ideally forming a higher low before another move higher.
Trade Plan:
Entry #1 (Breakout Play):
Buy on breakout and strong close above 14,851 (confirming continuation).
Target: 16,500 - 18,000
Stop Loss: Below 13,200
Entry #2 (Pullback Play):
Buy on pullback into the support zone between 5,538 and 7,933 (Circle Wave B zone).
Target: Retest of 14,851 and then higher (16,500 - 18,000).
Stop Loss: Below 5,300
Key Levels to Watch:
Resistance: 14,851 (100% Fib extension + prior swing high)
Support zone for pullback: 5,538 - 7,933
Breakdown signal: Drop below 9,648 (red line support)
Important Notes:
Momentum remains up; no confirmed top yet.
Micro-counting suggests possible completion but extensions are common — stay flexible.
A break below 9,648 would be an early signal that the top is in and a deeper pullback is underway.
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