BONKUSDT - Climb Back to .00004
Updated
The weekly MACD hasn't been drawn yet so there's likely more impact by the daily MACD on the price point.
BONK has seen .00004 as a high, so it's possible there's shorts waiting to get rekt at the top.
Expecting a slow climb back towards .00004.
Take note of the rising stochastic and MACD.
Long/shorts ratio has taken a standstill at .000012 to .000014 indicating there's a supply level there.
If it does fall to .000012 I would pick up more.
A great 2-3X hold.
BONK has seen .00004 as a high, so it's possible there's shorts waiting to get rekt at the top.
Expecting a slow climb back towards .00004.
Take note of the rising stochastic and MACD.
Long/shorts ratio has taken a standstill at .000012 to .000014 indicating there's a supply level there.
If it does fall to .000012 I would pick up more.
A great 2-3X hold.
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Idea came to fruition.Thanks.
Next target will be BONK dropping a 0.
Would not be surprised to see it drop 2 0's over the year, mkt cap and volume from SOL can be pushed to BONK quickly.
T1: .00004 ✅
T2: .0001 ❓
T3: .001 ❓
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Bollinger Bands on the 8HR are squeezing.Stochastic is in a healthy range of 20-80 (between the Red & Green lines).
CM_Ult_MacD_MTF is a great indicator for Moving Average Convergence Divergence.
-> It is showing a decreasing downtrend movement. Pressure is moving back to the Longs vs Shorts.
We can see this is true with the Longs vs Shorts Ratio as it is increasing ever so slightly.
A potential set-up soon for another breakout towards past .00004.
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.000027 Entry 1.000022 Entry 2
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The 8HR is indicating that a price jump may occur.
Let's look at the daily chart too though. (Below)
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Daily chart to supplement the 8HR chart (Above).Daily charts says there's still a possibility we could have a pullback down to .0000222 / .000027.
BUT. the 8HR shows that:
Volatility/volume is decreasing.
Long ratio is still ever so slightly increasing.
MACD is still progressively decreasing.
My favorite indicator is SQZMOM_LB with CM_Williams_Vix_Fix because we can have a better visualization for "IF" a squeeze is a possibility soon.
These are telling signs that there's token accumulation at (or around) .00003.
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ENTRY 1 and 2 have been hit as of 03/19/2024 @ 8:45AM EST.It looks like we are continuing in a downtrend.
I will continue to average my position down at .0000175.
This would be our last liquidation level.
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We've hit the .0000222 mark and I'm seeing consolidation around this price point.
It is still possible to see BONK drop to .0000175 so don't be overconfident on a high leverage play just yet.
Watching the 4HR and 8HR is important now.
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This is a continuation for BONK as our T1 of .00004 was achieved on March 8th/9th.Our next target will be BONK dropping a 0.
Again, I would not be surprised to see it drop 2 0's over the year, mkt cap, and volume from SOL can be pushed to BONK quickly.
T1: .00004 ✅ | March 8th/9th
T2: .0001 ❓ | TBD
T3: .001 ❓ | TBD ___________________________________________________________
Since BONK has dropped below .00004, I will continue the idea back to .00004.
See the DAILY chart for BONK.
Long / Shorts seems to be have hit a wall and trending back up towards the Longs.
CM_Ult_MacD_MFT chart has drawn a Green Dot on the MACD, which indicates a potential breakdown and trend reversal.
In addition, the SQZMOM_LB chart is revealing an upcoming "squeeze" or, really it is just additional confirmation on top of the CM_Ult_MAcD_MFT chart that there is a trend reversal and prices will begin to climb.
Let's watch it climb towards the new T1, T2, until it hits .00004 (T3) again.
July should be an interesting time for crypto.
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Quick chart update.We didn't touch, but almost barely touched our support of .0000175 ✅.
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