Ok ya degens... I would never tell you what to do with YOUR money - I don't give financial advice...
BUT... I promised this go around to share what I am doing with MY MONEY... Since we seem to be exiting the Bear Market and entering the "Return to previous ATH" (my term) part of the cycle...
I figured I'd better share some more things now or else people will be crying I didn't show them, later...
Now remember: Charting and TA and PA... no matter how fancy... are really just GUESS work... Educated guess work but guesses nonetheless...
In addition. No amount of TA can predict what something WILL do... it can confirm what something HAS done... and give clues as to the possibilities based on similar previous reactions... but it will never be 100% accurate and there are many, many variables to consider - that's why these are just my personal guesses and I share them to let you see what I think as well as points for me to return to and see how close I was!
Ok... here we go!! $Bonk is a stupid meme coin... HOWEVER... $Bonk is also a REALLY CHEAP meme coin... if you haven't figured out why that is important... I will tell you... for $10.
Anyways, I think $Bonk is a pile of hot steamy garbage and I don't know much about it... but I know plenty about people...
Like I shared previously, I suspected the ETF Approval wouldn't be the immediate moonshot many thought it would be (I'm looking at you Alex).
I figured the bigguns who were buying over the last year would probably take profits, unload some of their accumulated holdings and then short if possible while spamming FUD in the media...
This pushes the price down and allows the bastards to buy back their "profits" that they just sold... AT A DISCOUNT!!
The $42k level is strong because of the previous Bull Cycle... It's not lost on me that BTC's previous high was $69k (nice.) which it hit following the bounce from $42k (Mostly Harmless)... two classic meme numbers, back to back... #nerds
After the peak at $69k, BTC hit made a dead cat at $42k, failed to rally, dropped back to $42k for a week and then fell once more to $33k and well... you know the rest...
Anyways - the point is: $42k is a significant S/R Level and while it MIGHT hold... I suspect we're due for the typical 30-40% correction we typically see... so that would take us from $49k to about the $35k - $38k range (previous S/R range too)...
Why am I talking about $BTC if I'm showing you my degen $Bonk play??
Because $BTC is the Planet and coins like $Bonk are the Moons... Anything $BTC does... MOST of the Alts like $Bonk will do... but more exaggerated!
So if $BTC holds $42k... I think $Bonk hits the $.00001 Level and I'll put a small buy there... probably front run it by 5% or so...
BUT... If Bitcoin looks ready to really shit the bed and starts towards the $35k area... I expect $Bonk to aim for that $.000005 level and I'll make an ultra-degen play there lol
So without further gagging of lollies... Here's the $Bonk Chart and where I am buying 🙂
Good luck ya heathens 😉