What's up, Vikings and crypto traders!

Get ready, because the FLOKI chart is flashing one of the most powerful bullish reversal patterns in technical analysis. This could be the setup we've been waiting for, and the price action is a textbook example of a trend change in the making.

Let's dive into the specifics of this beautiful chart!

The Anatomy of a Bullish Takeover 📈 $FLOKI

We are looking at a classic Inverse Head and Shoulders (IHS) pattern on the 1-hour timeframe. This is a high-probability reversal pattern that often signals the end of a downtrend and the beginning of a new uptrend.

  1. The Left Shoulder: The initial low was formed, establishing the first part of the pattern.

  2. The Head: The price then dipped to a lower low, marking the bottom of the trend and forming the "head" of the pattern. This often exhausts the last of the sellers.

  3. The Right Shoulder: Crucially, the price then rallied and formed a Higher Low. This is the "right shoulder" and it's a massive signal that selling pressure is weakening and buyers are starting to take control.

  4. The Neckline & BREAKOUT! The horizontal red dotted line at approximately 0.0000890 acted as the "neckline" or key resistance. The most important event has just happened: FLOKI has decisively broken ABOVE this neckline! $FLOKI

The Current Situation: The Golden Retest

After a powerful breakout, it's very common and healthy for the price to pull back and retest the level it just broke. That's exactly what we're seeing now.

The old resistance (the neckline at ~0.0000890) is now being tested as new support. If the price holds here and bounces, it would be the ultimate confirmation that the bulls are in full command.

What's Next for $FLOKI?

  • Bullish Confirmation: As long as FLOKI holds above the neckline support (~0.0000890), the bullish outlook is extremely strong.

  • Price Target: The measured move for a confirmed IHS pattern often projects a target equal to the distance from the head to the neckline, added to the breakout point. This puts the psychological level of 0.0001000 firmly in sight as the next major target. $FLOKI

Final Verdict:

The Inverse Head and Shoulders is a powerful pattern. With a confirmed breakout and a retest currently in progress, the stage is set for a potential new leg up for FLOKI. The momentum has shifted.

Are you a FLOKI Viking? Are you watching this setup? Let me know your price targets in the comments! 👇

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Disclaimer: This analysis is for educational purposes only and is not financial advice. Trading cryptocurrencies carries a high level of risk. Always do your own research (DYOR).

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