Formation of a great uptrend - #BONK🔥🔥
📌We can observe how after a long downtrend the price starts to form an uptrend channel, within which the concept of position accumulation by a large player is clearly visible.
At the moment I am waiting for a very local correction to the 0.786 #Fibonacci level.
📝After the test of the marked level I will open a long position with the target in the breakdown of the resistance zone and the test of the $3.907 mitigation level.
🔜I plan to enter the trade from аcurrent ($3-$2.88) levels.
🛑 Stop loss will be at the level of ($2.5)
✅First take ($3.6)
✅Second takeout ($3.907)
When the first take is reached, stop loss should be replaced to the entry price. Reaching the second take will be 35% of net movement.
