So we are now 3 weeks old and we have had some ups and downs. The question now is. Are we bullish and will we survive the cut throat meme coin market?
In my opinion the answer is YES. Why you ask? I point you to the chart and tell you to zoom out. What do you see?
I see volatility on a small cap coin. But in the volatility I see 2 x lows and consolidation. The previous lower then the current low. Now lets put that into perspective. The 4th of November low of 35 points was during a bull meme coin market and Bitcoin strength. This saw consolidation then a 14x pump to around 450. We saw what was most likely a 160 consolidation forming prior to Bitcoin deciding to drop 20% and suck the life out of all coins.
With this bitcoin drop we saw a drop to 50 points as our low and consolidation now at 60 points, which is still higher then the previous low of 35 points. This low has also happened in a weak crypto wide dump event compared to the previous low of 35 during a peak alt coin run.
So in summary the chart tells me that in our current market condition we are showing strength and this consolidation should result in higher highs once bitcoin decides to re gain its strength. This may not be today, it may not be tomorrow but I still believe we are in a long term crypto bull market and this strength will return and we break ATH's
I also add that over our 3 weeks we are growing from strength to strength. We have gained a number of talented and enthusiastic people into the community who are breaking off into groups and working collaboratively on building this coin organically.
If you are looking for a small cap (currently $1.1mil) that has survived a significant BTC shakeout and is showing strength and a great community. I suggest looking at Bamboo Coin ($BMBO)
Remember to always DYOR and use risk management when investing.
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