BONK / USDT Trading strategy update v2

21 mai 2024

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?

• 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.

26 mai 2024

Trade fermée: cible de profit atteinte