BKNUSDT trade ideas
Brikken - Cup & Handle forming Several price targets can be seen in this upcoming coin.
Likely to go much higher in future, but these act as good initial targets.
BKN - Exciting Times AheadToday, I'd like to share my technical analysis on the Brickken (BKN) cryptocurrency, which is shaping up to be an exciting prospect for the year ahead.
As I've been closely monitoring the BKN chart, I've noticed a massive bull flag pattern forming on the daily timeframe. This is typically a bullish continuation pattern, suggesting that the upward trend could be poised to resume in the near future. What's particularly intriguing is the upcoming news surrounding Brickken's planned listings on both decentralized (DEX) and centralized (CEX) exchanges, which are expected to occur in the coming days. This news has undoubtedly been fueling the positive sentiment around the project, and my analysis indicates a 69% likelihood of an upside breakout from the current bull flag.
In the event of a successful breakout, I anticipate BKN to initially hold the 0.382 Fibonacci retracement level, which could serve as a springboard for the price to move towards testing the 0.236 Fibonacci level and potentially reaching a new all-time high (ATH). On the contrary, if the bearish scenario prevails, I expect BKN to retest the key 0.618 Fibonacci support level before the price range consolidates for the next leg up.
But the story doesn't end there. When I take into account the overall positive sentiment surrounding Brickken and the broader real-world asset (RWA) space, as well as the upcoming announcement regarding Brickken's partnership with the Avalanche blockchain , I believe this project has the potential to be a true winner in 2024 and beyond. The combination of the technical setup and the fundamental developments in the project make for a compelling investment case.
So, keep a close eye on BKN, my friends. The stage is set for an exciting journey, and I can't wait to see what the future holds for this promising cryptocurrency. Happy trading, and may the markets be ever in your favor!
Disclaimer: This information is provided for educational and informational purposes only and should not be construed as financial advice. I am not a financial advisor, and this content is not intended to be a recommendation or endorsement of any specific investment or trading strategy. Cryptocurrency markets are highly volatile, and investing carries significant risks. Please do your own research and consult with a qualified financial professional before making any investment decisions.
BKN/USDTToday we are taking a quick look into Brickken (BKN). I have done a quick trend analysis on the movement of the token since launch.
After launch we saw a drop due to market conditions, a stabilization, long consolidation period followed by a parabolic move to the upside. Currently the price has been locked into the upper range outlined on the chart. We have been respecting the trend line outlined in yellow since 11/23/2023, and if this can continue, I anticipate another jump towards the upside in the coming days.
My target is currently $0.58 - $0.60 before we establish some new support zones.
On the contrary, if the yellow trend line is broken and we drop down, I expect that yellow trend line to flip to dynamic resistance. If this happens, I anticipate we will temporarily fall into that lower price range where we will reestablish buying pressure/volume before rising to retest that $0.32 resistance level.
If you haven't already, do some research into Brickken and their team. They have been positioning themselves to be key players within the RWA Tokenization space since their inception. The proof is in the pudding with the recently announced Hackken tokenization, Chainlink partnership & acceptance into the Cointelegraph Accelerator program, greatly expanding Brickken's exposure and access. The team is even featured in the Top 100 projects on Certik Skynet, outlining it's focus on code quality, governance strength & operational resilience. With Edwin Mata, the CEO of Brickken, becoming a founding member of the RWATA (Real World Asset Tokenization Association), it shows his commitment, not just to the success of Brickken but to the foundation of the Asset Tokenization space in whole.
**This is NOT investment advice and I urge everyone to do their own research prior to investing into any asset in any market.**
