Watching a video from Trader XO right now (if you don't watch his youtube content, I would highly recommend it). His point, along with another great trader, is that MA's help us identify macro structure points (bear/bull) market reversal's. Bone is clearly in a consolidation phase right now after a huge spike up. Several others see alt's against BTC outperforming, perhaps due to ETH merge.
With Shibarium and Exchange listings coming, I don't see a Bone retrace below 1.50. Potentially, but that would be the cut area on a trade.
If we take the height of the flag pole from the impulse move upwards, trough to peak it was a 227% move. If that happens again, Bone would be at $7.75 from the height of the move.
just some observations.
