BONK #50
Just hit the reverse 2.272.
Most coin charts are either flat or bearish here so BONK has been pumping against the overall market.
This ratio is an algo favourite.
Alerts set above the 2.414 as invalidation but it could go a little higher and still be fine.
That said, I am looking for this to be a tidy catch.
There is no significant bearish wick as yet.
I am shorting this on the basis that I have seen plenty of peaks at this ratio.
I entered a short here 👍.
This analysis is shared for educational purposes only and does not constitute financial advice. Please conduct your own research before making any trading decisions.
Just hit the reverse 2.272.
Most coin charts are either flat or bearish here so BONK has been pumping against the overall market.
This ratio is an algo favourite.
Alerts set above the 2.414 as invalidation but it could go a little higher and still be fine.
That said, I am looking for this to be a tidy catch.
There is no significant bearish wick as yet.
I am shorting this on the basis that I have seen plenty of peaks at this ratio.
I entered a short here 👍.
This analysis is shared for educational purposes only and does not constitute financial advice. Please conduct your own research before making any trading decisions.
Order cancelled
Invalidated above 2.414Note
BONKIf you're feeling adventurous then there is an opportunity to take a second bite at BONK which is now into higher liquidity above resistance.
So BONK Bitcoin and TOTAL are all in higher liquidity above resistances.
If BTC did slump back to trading range lows, then BONK may have a significant dump.
Its dangerous though - if Bitcoin grinds higher then BONK could have another wave up à la PENGU
But it could make fast percentage profit if it did dump with Bitcoin.
A more cautious approach would be to wait for a big upper wicked candle and then short that - perhaps with a stop loss above the wick high 🤨.
Your FA guru can't read a chart💭
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I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
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Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
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.