Bonk Catastrophe... Level 1 (50%), Level 2 (85%) & Level 3 (95%)
I think a true disaster will happen here. It seems that the biggest damage will happen to the memecoins side of the market, based on what I am seeing coming from the charts.
Here we are looking at Bonk. You know, a major crash leads to a very strong rise when market conditions switch from bearish to bullish, we've seen this in the past. These memecoins grew really strong and the same also works in reverse. A major rise tend to produce a very strong correction and since there hasn't been much for this pair in comparison to recent growth, a major market flush can cause real damage.
Ok, what is the chart saying?
My name is Bonk, James Bonk...
➖ BONKUSDT can easily lose ~50%. This would be level 1.
But there is also level 2 and level 3.
➖ Level 2 would mean a 85% drop from current prices and level 3 a 95% drop.
➖ Level 1 support can be tested easily, that would be -50% for BONKUSDT. The other two, I don't know, but the market has been consolidation for many months for a major drop. If level 1 breaks, prepare for the worst.
Namaste.
Here we are looking at Bonk. You know, a major crash leads to a very strong rise when market conditions switch from bearish to bullish, we've seen this in the past. These memecoins grew really strong and the same also works in reverse. A major rise tend to produce a very strong correction and since there hasn't been much for this pair in comparison to recent growth, a major market flush can cause real damage.
Ok, what is the chart saying?
My name is Bonk, James Bonk...
➖ BONKUSDT can easily lose ~50%. This would be level 1.
But there is also level 2 and level 3.
➖ Level 2 would mean a 85% drop from current prices and level 3 a 95% drop.
➖ Level 1 support can be tested easily, that would be -50% for BONKUSDT. The other two, I don't know, but the market has been consolidation for many months for a major drop. If level 1 breaks, prepare for the worst.
Namaste.
🔥 PREMIUM Trade-Numbers (6-In-1 Offer Live!)
lamatrades.com (Since 2017)
🔝 Daily Cryptocurrency Technical Analysis
followalan.com
🚨 Free PREMIUM Trade-Numbers
alansantanatrades.com
lamatrades.com (Since 2017)
🔝 Daily Cryptocurrency Technical Analysis
followalan.com
🚨 Free PREMIUM Trade-Numbers
alansantanatrades.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.