Token

Elite

The Graph

Coin

<p>In a recent <a href="https://www.tradingview.com/chart/BONKUSDT/SKRyFPZf-BONK-Huge-Cup-Handle-For-Massive-Profits/" target="_blank" rel="noopener noreferrer nofollow">analysis</a>, trader FieryTrading identified a cup and handle pattern on the price chart of BONK, a popular meme cryptocurrency. This pattern, although not perfect due to the presence of a wick, is still considered valid enough for a potentially lucrative trade.</p>
<h2 class="wp-block-heading" id="understanding-the-cup-and-handle-pattern">Understanding the Cup and Handle Pattern</h2>
<p>The cup and handle pattern is a bullish technical formation that resembles a cup with a handle. It is characterized by a U-shaped curve (the cup) followed by a smaller downward drift (the handle). This pattern often indicates a period of consolidation before the price breaks out and continues its upward trend.</p>
<p>In the case of BONK, the cup and handle pattern has formed, suggesting that the cryptocurrency may be poised for a significant price increase in the near future.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="312" src="https://captainaltcoin.com/wp-content/uploads/2024/03/image-1121-1024x312.png" alt="" class="wp-image-459442" srcset="https://captainaltcoin.com/wp-content/uploads/2024/03/image-1121-1024x312.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-1121-300x92.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-1121-767x234.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-1121-1536x469.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-1121-2048x625.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-1121-492x150.png 492w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-1121-100x31.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-1121-1147x350.png 1147w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-1121-788x240.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-1121.png 1750w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<h2 class="wp-block-heading" id="key-support-level-at-0-00002000">Key Support Level at $0.00002000</h2>
<p>One of the crucial aspects of FieryTrading’s analysis is the identification of the $0.00002000 area as a strong support level. This level has held on two separate occasions, providing a solid foundation for the potential breakout.</p>
<p>The repeated bounce off this support level indicates that there is significant buying pressure at this price point, which could act as a springboard for BONK’s future price action.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Explosion in Meme Coin Market; How to find potential successors to $WIF, $PEPE, and $BONK? <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;">
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p>The key? Getting in early, especially during the <strong>ICO phase</strong>. Check out <a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow"><strong>NuggetRush</strong></a> today! This new memecoin combines play-to-earn gaming with authentic gold mining ventures. <a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow"><strong>Seize the opportunity</strong></a> with ongoing presale prices! Plus, prepare for $NUGX’s upcoming launch on major exchanges.</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<h2 class="wp-block-heading" id="ambitious-target-at-0-00010000">Ambitious Target at $0.00010000</h2>
<p>Based on the assumption that the cup and handle pattern will lead to a breakout and the establishment of new all-time highs, FieryTrading has set an ambitious target of $0.00010000 for BONK.</p>
<p>This target represents a substantial increase from the current price levels and implies that BONK could experience a major rally if the pattern plays out as expected.</p>
<h2 class="wp-block-heading" id="impressive-risk-to-reward-ratio">Impressive Risk-to-Reward Ratio</h2>
<p>One of the most compelling aspects of this potential trade is the impressive risk-to-reward ratio (RR) of over 25. This means that for every unit of risk taken, the potential reward is 25 times greater.</p>
<p>Such a high risk-to-reward ratio is rare in the world of trading and suggests that this opportunity could be particularly attractive for traders who are willing to take on the associated risk.</p>
<h2 class="wp-block-heading" id="considerations-and-risk-management">Considerations and Risk Management</h2>
<p>While the cup and handle pattern and the identified support level provide a strong case for a potential breakout, it is essential to approach this trade with caution. No pattern or analysis is perfect, and there is always the possibility that the price may not behave as expected.</p>
<p>Traders considering this opportunity should employ proper risk management techniques, such as setting stop-losses and sizing their positions appropriately. It is also crucial to conduct further research and analysis to confirm the validity of the pattern and support level before entering a trade.</p>
<p>You may also be interested in:</p>
<ul>
 <li><a href="https://captainaltcoin.com/is-the-solana-era-ending-elite-analyst-bets-on-coinbases-layer-2-ecosystem-heres-his-outlook/" target="_blank" rel="noopener noreferrer nofollow">Is the Solana Era Ending? Elite Analyst Bets on Coinbase’s Layer 2 Ecosystem – Here’s His Outlook</a></li>
 <li><a href="https://captainaltcoin.com/stacks-stx-price-eyes-4-following-30-pump-while-the-graph-grt-consolidates-heres-why/" target="_blank" rel="noopener noreferrer nofollow">Stacks (STX) Price Eyes $4 Following 30% Pump While The Graph (GRT) Consolidates – Here’s Why</a></li>
 <li><a href="https://captainaltcoin.com/the-2024-launchpad-token-outlook-bull-run-investment-strategy/" target="_blank" rel="noopener noreferrer nofollow">The 2024 Launchpad Token Outlook: Bull Run Investment Strategy</a></li>
</ul>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/Copy-of-P2P-Review-17-qi3pqhl3pi3mlojv8nq0upz5rcb68rblc7kuvhcaou.png" width="500" alt="Check NuggetRush ($NUGX)" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-nuggetrush-nugx-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check NuggetRush ($NUGX)</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy NUGX Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Being in its <strong>ICO stage</strong>, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>A unique <strong>play-to-earn</strong> gaming platform in the memecoin market <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>The platform combines artisanal and <strong>gold mining</strong> with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Fosters a strong <strong>community </strong>by encouraging physical meetups among members <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i><strong>NFT</strong> Integration with Prominent Characters
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/bonk-forms-cup-and-handle-pattern-analyst-predicts-how-high-the-meme-coin-can-go/" rel="noopener noreferrer nofollow">BONK Forms Cup and Handle Pattern: Analyst Predicts How High the Meme Coin Can Go</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

BONK Forms Cup and Handle Pattern: Analyst Predicts How High the Meme Coin Can Go

Table of Contents

CaptainAltcoin

دیگر آرٹیکلز 25 مارچ، 2024 پر پبلش کیے گئے ہیں

Analyst Predicts XRP’s Ascent to $1; Breakout Looms as Toncoin Nears ATH; InQubeta (QUBE) Becomes...

XRP Ledger Seeks Testing Ground for Enhanced Safety

Cryptocurrency Market Sees Positive Start to the Week

Whale Transactions Stir Arbitrum’s Cryptocurrency Market

Is Brazil leading the LATAM charge into Crypto?

Recent Developments in the Cryptocurrency Market

Join our free newsletter for daily crypto updates!