SHORT $FOLKS - SEVERE BREAKDOWN WITH PERPETUAL CONTRACT PRESSURE
Current Price: $2.359
Signal: Price has experienced severe breakdown with -9.79% daily loss, testing MA60 support in perpetual contracts, indicating extreme selling pressure.
Entry: 2.350 - 2.365
TP1: 2.250
TP2: 2.150
TP3: 2.050
SL: 2.420 (above recent resistance)
CHART ANALYSIS:
Extreme Daily Decline: -9.79% loss shows aggressive selling pressure and breakdown acceleration.
MA60 Support Test: Price testing MA60 ($2.342) with downward momentum suggests potential breakdown.
Perpetual Contract Leverage: As a perpetual contract, this move may be amplified by leveraged short positions.
Severe Selling Momentum: Significant percentage decline suggests panic selling or liquidations.
Technical Breakdown: Price breaking toward key moving average with heavy selling suggests continuation downward.
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