BONK: PEPE, I'm coming home to you!
Explaining the idea of why I expect BONK to fall further.
Trend: LH's and LL's, peaks getting lower and lower, tapping into the floor of 0.00001
Volume peaks: I've marked the peaks with a red "X" both on the price chart and volume.
Decreasing volume: Every time a peak has been made, volume as fallen, and so has price. See the red arrows on price and volume.
I'm expecting this to be the case now too.
Eventually breaking the floor of 0.00001 and falling to around 0.000005. That's about a 60% drop from current prices.
Trend: LH's and LL's, peaks getting lower and lower, tapping into the floor of 0.00001
Volume peaks: I've marked the peaks with a red "X" both on the price chart and volume.
Decreasing volume: Every time a peak has been made, volume as fallen, and so has price. See the red arrows on price and volume.
I'm expecting this to be the case now too.
Eventually breaking the floor of 0.00001 and falling to around 0.000005. That's about a 60% drop from current prices.
Note
Update: This idea is invalidated if we get a daily candle close above 0.00001330
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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.