BONK / TetherUSLong
BONK / USDT Trading strategy update v2
Updated
After the success of the last trading strategy published about BBONK, here is an updated one.
I am trading myself, so I am conducting this research personally and sharing it with you. I can be wrong, so always do your own research (DYOR).
We just got a nice pump from
BTC, resulting in a 20% pump for some coins. BBONK was one of them.
What did we learn?
What can we expect now?
I assume that we have all sold at the top; it is the right thing to do. Now we will have a pullback, as all the coins will. BBONK could be hit hard.
On the chart is my expectation: first, a pullback to the support/neckline of the head and shoulders formation, then a pump to the upside, with the targets being 3030/3361/3815.
Anything can happen, so be careful with your money.
I am trading myself, so I am conducting this research personally and sharing it with you. I can be wrong, so always do your own research (DYOR).
We just got a nice pump from
BTC, resulting in a 20% pump for some coins. BBONK was one of them.What did we learn?
- BBONK is a very reactive coin; you can make 2% in 15 minutes or lose it.
- BBONK lagged behind
PEPE; it seems that many people sold PEPE at its peak and then purchased BONK. - BBONK is very liquid, making it great for market buy/sell sniping. You can buy or sell 100k worth without it being noticeable (try doing that with a smaller coin!).
- BBONK is heavily washed. For example, I had a 150k trade to sell, and it blocked BBONK at the same price for 10 minutes. Apparently, at that time, I was a block. This means that most trades are done by bots. But who cares? Binance does this with some coins they like or hold a lot of.
- BBONK can retrace 74% from a pump, so be careful not to hold after a pump.
What can we expect now?
I assume that we have all sold at the top; it is the right thing to do. Now we will have a pullback, as all the coins will. BBONK could be hit hard.
On the chart is my expectation: first, a pullback to the support/neckline of the head and shoulders formation, then a pump to the upside, with the targets being 3030/3361/3815.
Anything can happen, so be careful with your money.
Trade closed: target reached
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.