BONK retraced to $0.00002150, slightly below our recommended entry range of $0.000020-$0.000021. Although it did not reach the exact target of $0.000021, the price did reach $0.0000215, which is very close to the expected range.
If the trader had entered the position at $0.0000215 and closed at the first profit target of $0.000026, the trade would have returned 20.93% over 5 days. Despite the slight differences in the entry points, the overall trend closely followed our prediction.
According to Fibonacci analysis, which analyzes the macro low of June 24 and the high of July 2, the Golden Pocket is between $0.00002129 and $0.00002158. BONK has effectively bounced off this level, establishing it as a support line before the rally.
Those who remained cautious and entered at our secondary recommendation of $0.000025 and sold at $0.000026 made a 4% profit on the trade.
Market Outlook
The current market situation shows considerable uncertainty. We are against opening new positions on BONK in the short term.
Final Notes
The effectiveness of weekly chart analysis will continue to show in the long term, but the prediction success rate is currently 100%. Look forward to future analysis every Friday.
Disclosure: This article does not constitute investment advice. The content and materials presented on this page are for educational purposes only.