#FLOKI / USDT inverted head and shoulder. What is next?CRYPTOCAP:FLOKI gained 20% yesterday, indicating that its previous consolidation phase has ended. Are we going to see more uptrend?
What do we know?
CRYPTOCAP:FLOKI has a motivated team with a roadmap to become the most traded crypto in the world!
CRYPTOCAP:FLOKI has just been listed on Coinbase perp futures, similar to CRYPTOCAP:BONK and $PEPE. This shows that it is likely following in their footsteps, albeit a little later; both saw a 50% increase after their listings.
CRYPTOCAP:FLOKI has some utility compared to other memes, with integration into TokenFi, use as the native currency of Valhalla (a metaverse), and other projects.
Regarding the charts, I see an inverted head and shoulders pattern, a bullish signal with a target of 0.0004754, which represents a 65% pump. This aligns with the pumps seen in CRYPTOCAP:PEPE and CRYPTOCAP:BONK after their Coinbase listings.
I also see a parabolic trend that seems to continue for now.
There is a bearish divergence due to a CRYPTOCAP:BTC dump, which pushed down the RSI in the middle of the uptrend. In my opinion, this will not have any lasting effect since it was due to an external, temporary factor, but it needs to be mentioned.
The take profits are the fib extension.
Not a financial advice, DYOR.