🔥 $FOLKS Bearish Trend, But a Little Bounce Might Be Brewing
The trend is still solidly bearish, no denying that, but there's some short-term rebound potential showing up.
*Quick observations:
- Volume's been fading during the downtrend – classic sign that sellers might be getting tired. Today's 9.44% pump on moderate volume feels like some cautious buyers stepping in.
- Flows are ugly: massive outflows across the board (24h -2.9M, 7D a whopping -63M). Big money's been dumping, but sometimes these extreme outflows mark capitulation and set up for reversals.
- Looking back, this thing had a crazy run from 4.17 to 32.85 (almost 7x), then crashed hard – down 86% from the top. We're in what could be a value zone for contrarians.
*My play $FOLKS Cautious long – purely speculative bounce.
- Entry: Around current levels 4.20–4.35 (fine to take a small position here)
- Stop: 3.85 (below the recent swing low)
- Targets: TP1 4.65, TP2 5.00 – aiming for the 20-day MA area
Rationale: It's counter-trend in a bear market, but multiple indicators are flashing oversold (KDJ, Bollinger %B, RSI), and that daily bounce is a hint of reversal.
One break below 3.80 $FOLKS and it's game over for the bounce thesis.
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