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📉 SHORT IDEA: $FOLKS Rejection Incoming?
FOLKSUSDT just pumped +37% and is now testing the upper Bollinger Band (2.823) after a massive rally from 1.962.
My bearish thesis:
- Price is overextended above the upper BB
- RSI likely overbought (parabolic move)
- Profit-taking could trigger a pullback toward MA (2.312) or lower
Potential Short Setup:
📌 Entry (Sell): 2.836 - 2.867
🎯 Take Profit 1: 2.312 (MA)
🎯 Take Profit 2: 2.091
🛑 Stop Loss: 2.950 (above recent high)
⚠️ This is just a trade IDEA, not financial advice! Market can always go higher. Manage your risk and use proper stop-loss.
What do you think—will FOLKS reject here or keep pumping? Drop your view below! 👇
#FOLKS #Gateio #ShortTrade #Bearish