Bonk / USDTLong
Bonk is Undervalued by at Least 1000%
Updated
The chart shows classic price correction but this idea is not about classic technical analysis.
Under normal circumstances this bullish trade would be a process of several days or even a few weeks - dropping to resistance at 0.000015 and strong resistance at 0.000010. Then long in several strong waves.
But... these are not normal circumstances. Bonk is in the news and for good reason such as being listed on Coinbase and Binance, but that's not why I am excited.
BONK is undervalued to the point of bewilderment when you look under the hood and learn what is going on behind the scenes. Also, if you compare volume and turnover against the top 50 Cryptocurrencies it becomes even clearer. Dive deeper and discover how deeply connected BONK is with the Solana ecosystem and the projects BONK is aligned with. BONK is not just a meme coin.
I understand there is a lot more to it than trading prices when comparing the value of one coin again another however, in my opinion BONK is more valuable than Doge and several other 'big' players in the crypto space. Currently
DOGE is trading at around $0.09 and BONK is $0.000025 and some others a lot higher and way over valued in some cases.
Disclaimer: I am not a financial advisor, this is simply an idea illustrating why I'm making my biggest investment of 2023 in BONK - when I told my friends today they thought I was crazy then I told them to put Bonk news into Google and get back to me... They want to know more now LOL :-)
Under normal circumstances this bullish trade would be a process of several days or even a few weeks - dropping to resistance at 0.000015 and strong resistance at 0.000010. Then long in several strong waves.
But... these are not normal circumstances. Bonk is in the news and for good reason such as being listed on Coinbase and Binance, but that's not why I am excited.
BONK is undervalued to the point of bewilderment when you look under the hood and learn what is going on behind the scenes. Also, if you compare volume and turnover against the top 50 Cryptocurrencies it becomes even clearer. Dive deeper and discover how deeply connected BONK is with the Solana ecosystem and the projects BONK is aligned with. BONK is not just a meme coin.
I understand there is a lot more to it than trading prices when comparing the value of one coin again another however, in my opinion BONK is more valuable than Doge and several other 'big' players in the crypto space. Currently
DOGE is trading at around $0.09 and BONK is $0.000025 and some others a lot higher and way over valued in some cases. Disclaimer: I am not a financial advisor, this is simply an idea illustrating why I'm making my biggest investment of 2023 in BONK - when I told my friends today they thought I was crazy then I told them to put Bonk news into Google and get back to me... They want to know more now LOL :-)
Note
Currently testing resistance at 0.00002050.The next move depends on how the flag forms and if breaks resistance towards 0.000018200 or bounces upwards at the tip the flag.
If it does break there is the opportunity for a quick short down to 0.00001820.
A flag could form there while testing resistance. If so we look for a similar scenario. Either drop to resistance at 0.0000150. At this stage I think 0.0000150 is the lowest we will go and if so that will be the start of the long trade.
Note
0.00002050 resistance was broken but didn't go to 0.000018200.Trade is on with a SL at 0.00001800.
Note
Move SL to break even at 0.0000205Note
Currently testing resistance at 0.000023300 next step is to push up to then through 0.000026100 that could prove tough and may sit there for a while so you can choose close at 0.000026000 and buy back in when you see 0.000026100 is clearly broken. I'm holding all the way through to all time high over Christmas. Then review and get back in around new the new year. holding spot all the way through)Trade closed manually
Trade closed with a small profit.Failed to reach 0.00002610. Was looking for support at 0.000024400 but failed and broke down back towards 0.00002050 so I closed trade. I'll wait to see how support goes at 0.00002050.
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