Follow-Up on #BONK/USDT DCA Strategy - (29 May 2024):
As mentioned in the previous post about the DCA strategy, provided examples of buying points for BONK. Here are those buying points again for reference. If you have already set those orders, that's great! If not, there's still time, and you can consider the following analysis further.
- Current Buy Order: 0.00003601 USDT for $BONK .
- Current Price: 0.00003734 USDT.
- Recent Price Movement: The price has recently dropped from a high of 0.00004450 USDT, indicating a downward trend.
Recommendations:
1. Keep Existing Buy Order:
- Your existing buy order at 0.00003601 USDT is well-placed considering the current market trend. The price has shown the potential to reach this level, and given the current downward pressure, it is likely to get filled.
2. Additional Buy Orders:
- Consider placing another buy order slightly below your current one, around 0.00003550-0.00003600 USDT, to take advantage of any further dips.
3. Selling Strategy:
- Once your buy order at 0.00003601 USDT is filled, set sell targets to ensure profits and protect against losses. Here are three take-profit levels you can set:
- TP1: 0.00003800 USDT
- TP2: 0.00004000 USDT
- TP3: 0.00004400 USDT
Scenario Analysis:
1. If the Market Recovers:
- If BONK/USDT bounces back and moves towards the 0.00003800 USDT level, you can expect your sell targets to be hit.
2. If the Market Continues to Drop:
- If the price continues to drop, your buy order at 0.00003601 USDT will likely be filled. Be prepared to hold and wait for a bounce to hit your sell targets.
Conclusion:
Keep your current buy order at 0.00003601 USDT as it is well-placed to capture potential dips. Set your sell targets at 0.00003800, 0.00004000, and 0.00004400 USDT to maximize gains. Use trailing stops to protect your profits and minimize losses.
