【$FOLKS Signal】High volume at resistance, price stagnation, waiting for a pullback to go long

$FOLKS RSI on 4H surged to 71.79, buy depth ratio is 0.38, sell orders are twice as many as buy orders in overbought territory.
On 1H, the upper Bollinger Band at 1.645 was touched, then the price retreated to 1.613, MACD histogram narrowed.
Funding rate is 0.0639%, slightly high, open interest is stable, long position costs are rising, short-term profit-taking sentiment is strengthening.
🎯Direction: Long (waiting for a pullback to place orders)
⚡Entry/Order: Any price between 1.465 and 1.603, can place limit orders to wait for execution
🛑Stop loss: 1.426
🚀Target 1: 1.613
🚀Target 2: 1.620
🛡️Trade management: - Execute strategy: reduce 50% of position upon reaching Target 1, move stop loss up to 1.465 to protect capital.
If the price falls back below 1.465, exit and observe.
When retracing to the 1.465-1.603 zone, the 4H EMA50 (1.4332) provides support, and the 1H RSI will fall from overbought to neutral, creating a second entry opportunity.
Currently, chasing longs at high levels has poor risk-reward, waiting for a pullback is a safer choice.
Check real-time market 👇 $FOLKS
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