Technical analysis by RiskCity about Symbol BONK: Sell recommendation (2/12/2024)

Explaining the idea of why I expect BONK to fall further.Trend: LH's and LL's, peaks getting lower and lower, tapping into the floor of 0.00001Volume peaks: I've marked the peaks with a red "X" both on the price chart and volume.Decreasing volume: Every time a peak has been made, volume as fallen, and so has price. See the red arrows on price and volume.I'm expecting this to be the case now too.Eventually breaking the floor of 0.00001 and falling to around 0.000005. That's about a 60% drop from current prices.Update: This idea is invalidated if we get a daily candle close above 0.00001330