Popular analyst Ali Martinez warned investors about Solana (SOL)-based altcoin BONK.
At this point, the analyst, who previously stated that the BONK price gave a buy signal according to the TD Sequential indicator on the weekly chart, pointed out that the indicator now gives a shot signal on the BONK price.
According to the analyst, the sell signal of the TD Sequential indicator was interpreted as a sign that the increase experienced in recent weeks for BONK may decline.
At this point, Ali Martinez said he did not predict exactly when the reversal would be triggered for BONK, but predicted that this correction could last one to four weeks.
“Reversal in BONK's bull run. The TD Sequential indicator had presented a buy signal on the weekly chart!
However, the same indicator is now giving a sell signal. “This situation suggests that BONK may enter a correction period that will last one to four weeks.”
BONK continues to trade at $0.00001165 at the time of writing.
Flashback to just before $BONK's 8,422.58% bull run – the TD Sequential indicator had presented a buy signal on the weekly chart!
Now, the same indicator is showing a sell signal. This suggests #BONK might be heading into a correction period lasting one to four weeks. pic.twitter.com/qjEHO9ss0o
— Ali (@ali_charts) December 11, 2023
*This is not investment advice.
