Hello traders as we can see BONK has had an excellent run and if you managed to get in at the bottom and ride the breakout from the first bullish pennant then you are certainly in a lot of profit!. The question is where does BONK go now. Yes we have been a way from the mean from a while. Yes we have hit the 1.618 on the fib extension and there is no requirement to go any higher as shown
However I believe it can push on further and hit at least that 2.618 fib extension target of 0.00004585 but we need to find support on the 1.618 fib extension first. Remember markets seek liquidity so before it pushes on higher it may go lower
However I believe it can push on further and hit at least that 2.618 fib extension target of 0.00004585 but we need to find support on the 1.618 fib extension first. Remember markets seek liquidity so before it pushes on higher it may go lower
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Pullback initiated testing weekly pivot point a close below this is the invalidation of the thesis
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.