BONK retraced to $0.00002150, just shy of our recommended entry range of $0.000020-$0.000021. While the exact target of $0.000021 was not hit, the price did get very close to the predicted range by reaching $0.0000215.
If traders entered the position at $0.0000215 and exited at our first profit target of $0.000026, the trade would have yielded a 20.93% return over a five-day period. Despite the slight variation in the entry point, the overall trend followed our predictions closely.
Analyzing the macro-level low on June 24 and the high on July 2, Fibonacci analysis indicates the golden pocket lies between $0.00002129 and $0.00002158. BONK effectively bounced off this level, establishing it as support before rallying.
For those who were cautious and entered at our secondary recommendation of $0.000025, exiting at $0.000026, the trade still resulted in a 4% gain.
Market Outlook
Currently, market conditions exhibit significant uncertainty. We advise against initiating new positions in BONK in the near term.
Final Notes
The effectiveness of the Chart of the Week analysis will continue to manifest in the long term, but the prediction success rate currently stands at 100%. Stay tuned for future analysis each Friday.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
