ð Paradisers, #FLOKI has broken out of the Descending Channel and formed a 'W' pattern at the bullish Order Block (OB) level, which enhances the probability of a bullish move.
ð If #FLOKIUSDT breaks above the resistance level, we can target the next resistance levels. Remember, we need a confirmed candle close above this level.
ð In the case of a pullback, we can anticipate a bounce from the Bullish OB level. We might see a potential double or triple bottom pattern here, improving our risk-to-reward ratio, making this scenario more favorable for entries.
ð However, if the price breaks down below the bullish OB level, it would be better to disregard this setup and wait for more favorable price action to develop.