BONK - Trade setup
Techically speaking, BONK is one of the most bullish charts I am looking at, again just my persepctive. We are close to all time highs, and memecoins continue to be leading the market when Bitcoin recovers. We’ve see PEPE be a big winner this week as well.
Below are some thoughts on BONK using Fibonacci analysis.
Bullish scenario
BONK needs to get above the 0.618 ‘golden-ratio’ fib for this technical setup to be valid to begin with. From there the next targets is the previous high, the 1.212 fib and the 1.618 fib. From current prices, the upper target is an ~100% move.
Bearish scenario
A breakdown from here and making a new local low would be a bearish move, that could take some time to recover in my opinion.
Below are some thoughts on BONK using Fibonacci analysis.
Bullish scenario
BONK needs to get above the 0.618 ‘golden-ratio’ fib for this technical setup to be valid to begin with. From there the next targets is the previous high, the 1.212 fib and the 1.618 fib. From current prices, the upper target is an ~100% move.
Bearish scenario
A breakdown from here and making a new local low would be a bearish move, that could take some time to recover in my opinion.
Check out my YouTube channel - Crypto With Pav, for crypto market analysis. You can also join my free telegram for more frequent updates - t.me/pavs_ta_temple
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Check out my YouTube channel - Crypto With Pav, for crypto market analysis. You can also join my free telegram for more frequent updates - t.me/pavs_ta_temple
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.