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BONKUSDT Perpetual Swap Contract

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BONKUSDT.P trade ideas

Bearish Downtrend Channel! Breakout ImminentBearish Downtrend Channels are known for reversals once downtren is broken. In addition, BONK has established a short term support around the .000012 area. If the .000012 support breaks .0000099 will be revisited. January 8th or 9th should provide clarity on the direction of move. Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions.
by DJ123
2
Bonk Continues to Slip as It Approaches a Do or Die PointBYBIT:BONKUSDT is approaching the key $0.0000088550 support level and could rebound from this mark before entering into a bullish move if history repeats itself. This is after the meme coin entered a buy zone between $0.0000088550 and $0.0000128480 in the past week. Previously, Bonk entered into a similar setup, which led to a 3-day bullish sequence that took the altcoin’s price from a low of $0.0000093430 to a high of $0.0000179540. As the crypto drops to the $0.0000088550 support, a green candle seems to be emerging on the meme coin’s daily chart. If BONK closes today’s trading session in the green, it may enter another positive sequence in the following 48 hours. In this bullish scenario, the Bonk price may attempt to break above the medium-term negative trend line that is currently restricting its price. If it is rejected by this level, it could then pull back to retest the $0.0000088550 support again. However, a daily candle close above this trend line may open a path for BONK to rise to $0.0000192765. Continued buy pressure could then boost the Bonk price to as high as $0.0000290295 in the following week. This bullish thesis may be invalidated if BONK breaks below the $0.0000088550 support. In this alternative scenario, the meme coin could plummet to the subsequent support level at $0.000031115 in the following few days. Bears Have Taken Their Foot off the Pedal Traders and investors will want to note that technical indicators on BONK’s daily chart suggest that its bearish trend has reached a turning point. The Relative Strength Index (RSI) indicator shows that buyers are attempting to reclaim their strength as the RSI closes in on its Simple Moving Average (SMA) line. In addition to this, the Moving Average Convergence Divergence (MACD) indicator shows that BONK’s negative trend’s intensity has cooled down. This is evident in the leveling off of the MACD Histogram slope.
by StevenWalgenbach
BONK DAILY SHORT ON THE RETRACE, THEN LONG PAST THE ATHTA Technical Analysis Navigating the Waves of Bonk (Meme Coin/Token): A Technical Perspective In the vibrant and volatile landscape of cryptocurrency, Bonk, a notable meme coin/token, exhibits intriguing technical patterns worthy of a trader's keen eye. Presently, Bonk seems to be navigating through a phase of retracement, specifically within the Level 2 bracket. This is a crucial juncture, as it teeters on the precipice of a potential rebound from the pivotal support level at 0.00000494. This support zone is not just a numerical threshold; it represents a psychological battleground for market participants. In alignment with the broader market's synchrony with Bitcoin's movements, Bonk's trajectory is a dance closely choreographed with the crypto kingpin. However, the plot thickens with the presence of dual weekly Fair Value Gaps (FVGs) lying in wait at the lower end of the current impulse wave. These gaps are like hidden eddies in the market's flow, capable of exerting a magnetic pull on the price action. Weighing these technical elements, my hypothesis leans towards a more optimistic scenario. The likelihood of Bonk's price action finding a resilient footing at or near the 0.00000494 support zone appears substantial. Should this occur, it would pave the way for a bullish resurgence, a narrative well-favored by bullish traders and enthusiasts alike. In essence, while the dance with uncertainty continues, the rhythm of the market seems to hum a bullish tune for Bonk, at least in the long term. The current positioning of the price within the 'discount zone' reinforces my analysis that it is traversing a Level 2 zone. Maintaining this structural integrity is key; provided it remains intact, we're likely to witness a robust upward movement, potentially surpassing the previous all-time high (ATH). Fundamentals Point of View Bonk Coin/Token: A Revised Fundamental Analysis Bonk, a meme coin/token predominantly based on the Solana blockchain, has recently garnered significant attention in the cryptocurrency market. Its fundamental characteristics, though whimsical and speculative, have shown a compelling story of growth and market dynamics. The most notable aspect of Bonk's journey is its substantial market performance, particularly towards the end of the previous year. Key developments, such as the introduction of single-sided staking and listings on major exchanges like Coinbase and Binance, have played a crucial role in its price rallies. For instance, the listing on Coinbase led to a remarkable 50% rally in its value, while the Binance listing saw an over 100% surge. Despite these successes, Bonk has not been immune to market volatility. It underwent a significant correction, losing over 70% of its value at one point. However, it has shown resilience and recovery, evidenced by a recent 30% surge in its price. Looking ahead in 2024, the outlook for Bonk is largely bullish. Market predictions suggest potential trading values that could surpass its recent all-time high. This optimism is fueled by the ongoing support from the community, its presence on major exchanges, and the overall market sentiment towards meme coins. From a market dynamics perspective, Bonk's performance is reflective of the broader sentiment in the cryptocurrency market. Its correlation with the movements of major cryptocurrencies, especially Bitcoin, indicates its sensitivity to overall market trends. The listings on prominent exchanges have boosted its visibility, attracting investor interest and potentially influencing its market momentum. It is important to note, however, that like other meme coins, Bonk's trajectory remains highly speculative and subject to market whims. The inherent volatility of such assets poses risks of sharp corrections and potential market manipulation. While community-driven momentum can lead to significant gains, investors and traders should approach with caution and a measured understanding of the asset's speculative nature. In summary, Bonk's fundamentals point towards a cryptocurrency whose fortunes are closely tied to community sentiment, market trends, and its evolving presence in the cryptocurrency ecosystem. Its recent market performance and bullish outlook for 2024 present both opportunities and challenges, requiring a balanced approach to potential investment decisions
Long
by Market-Pip-Factory
BONK Falls 5%, but Will History Repeat to Send It Surging?BYBIT:BONKUSDT entered into a strong bullish move on Jan. 8 after it rebounded off of the $0.0000088550 support level. This led to BONK breaking above the $0.0000128480 resistance level and attempting to overcome the $0.0000192765 barrier as well. However, traders took profit, stopping BONK in its tracks as a result. The BONK price then retraced to the $0.0000128480 mark. Currently, traders are attempting to pull the Bonk price below this significant price point. What’s interesting is that the current setup is similar to the setup that resulted in the aforementioned bullish move for the meme coin. Should history repeat, the altcoin may rise to the closest resistance level at $0.0000192765 in the next couple of days. Continued buy pressure could lead to the crypto breaking above this threshold and potentially rising to as high as $0.0000290295 in the short term. Still a Large Amount of Downside Potential This bullish thesis may be invalidated if the Bonk price closes a 4-hour candle below $0.0000128480 in the next 12 hours. In this more bearish scenario, the meme coin could be at risk of falling to the $0.0000088550 support level through the course of the following week. Traders and investors will want to note that the Relative Strength Index (RSI) on BONK’s 4-hour chart was close to oversold territory. Traders may see this as a launchpad for a strong bullish move. Supporting this bullish outlook is the positive slope of the RSI line, which indicates that bulls are currently growing stronger against bears. Despite this, the RSI line is positioned below its Simple Moving Average (SMA) line, which suggests that sellers still have the upper hand against buyers. As a result, traders may want to wait for the two lines to cross before going long on the meme coin. In addition to this, the Moving Average Convergence Divergence (MACD) line is breaking away below the MACD Signal line. This may be a sign that BONK’s negative trend is not over yet.
Long
by StevenWalgenbach
#BONK The world of decentralized finance (DeFi) has seen a surge#BONK is a relatively new token that has quickly gained attention for its unique features and growth potential. In this article, we will take a closer look at BONK and explore what sets it apart from other DeFi tokens. First and foremost, BONK is a deflationary token, which means that the total supply of BONK tokens decreases over time. This is achieved through a mechanism called "token burning," where a portion of the tokens in circulation are permanently removed from the supply. This scarcity can drive up the value of the remaining tokens, making BONK an attractive investment for those looking for long-term growth potential. In addition to its deflationary nature, BONK also offers staking and yield farming opportunities. Staking allows token holders to lock up their BONK tokens in exchange for rewards, while yield farming involves providing liquidity to a decentralized exchange and earning rewards in the form of additional tokens. These features make BONK an appealing option for investors looking to earn passive income through their crypto holdings. Of course, like any investment, BONK comes with its own set of risks. The DeFi space is known for its volatility and potential for rapid price fluctuations, so investors need to do their own research and understand the risks involved before diving into any new token. "Please remember to DYOR (Do Your Own Research) as this is not financial advice."
by Louissarry
BONK 4H BEARISH TRIANGLE : DUMP UPCOMINGWith Bonk's reversal from the 0.0001800 area, we can construct a clear bearish triangle on the chart. Bearish triangles often break bearish to make new lows, so that's going to be the idea behind the trade. Wait for the price to close below the triangle's support area. Looking for a move towards the 0.0000900 range. Might be far-fetched, but this token did a massive 200x in a matter of weeks, so a big correction is to be expected at some point.
Short
by HyBlockCap
🔥 BONK Bearish Triangle: Preparing For DumpWith Bonk's reversal from the 1800 area, we can construct a clear bearish triangle on the chart. Bearish triangles often break bearish to make new lows, so that's going to be the idea behind the trade. Wait for the price to close below the triangle's support area. Looking for a move towards the 380 range. Might be far-fetched, but this token did a massive 200x in a matter of weeks, so a big correction is to be expected at some point.
Short
by FieryTrading
1
Dump while you can or you will lose everything.Can you see what i see. If you can then you know what the F is about to happen. Resistance has been hit and manipulation used divergence indicator against the market. Hidden detailed information compared with the best indicators and momentum waves suggest a very strong pull back. I went through this before when shiba inu crashed over 90 percent very quickly. Don't get trapped in a trade. This is seriously a bad situation so wait until the consolidation starts at the low of this chart. your welcome traders have a good day.
Short
by UnknownUnicorn35774657
2
BONK Introduces PooperScooper to Streamline Asset Management$BONK introduces 'PooperScooper' for easy asset management, marking a major leap in meme coin utility and user convenience. Solana’s meme coin, BONK, recently introduced a new feature, dubbed ‘PooperScooper,’ to streamline user interactions and asset management within its ecosystem. This latest development represents a significant step in BONK’s ongoing efforts to expand its reach and utility in the competitive world of digital currencies. ‘PooperScooper’: Simplifying Asset Management The ‘PooperScooper’ feature, a notable innovation within the community, aims to provide users with an efficient tool for managing their digital assets. This functionality allows individuals to quickly identify and organize tokens no longer aligned with their investment strategies. The feature enhances convenience and user engagement by enabling users to convert these assets into BONK seamlessly. The community’s response to the introduction of ‘PooperScooper’ has been overwhelmingly positive. This enthusiasm underscores the growing demand for user-friendly tools in cryptocurrency, particularly within the meme coin sector, where simplicity and accessibility are critical. $BONK’s Growth Trajectory Despite being a newer entrant in the meme coin market, BONK has shown remarkable growth and resilience. Compared to its more established counterparts like Shiba Inu (SHIB), the coin has demonstrated a significant surge in value, boasting a 6,761% increase over the past three months. This growth trajectory speaks volumes about the coin’s potential to challenge the dominance of other prominent players in the meme coin arena. The introduction of ‘PooperScooper’ is a testament to $BONK’s commitment to innovation and a strategic move to bolster its position in the cryptocurrency market. By continuously enhancing its offerings and focusing on user experience, $BONK is steadily carving out a niche among digital currency enthusiasts.
Long
by DEXWireNews
Bonk Drops 12%, but Technicals Suggest a Strong Move UpBYBIT:BONKUSDT was able to escape the medium-term negative trend that it was trapped in over the past few weeks. Following its break out of a descending triangle pattern, BONK attempted to challenge the strong resistance level at $0.0000192765. However, sellers were quick to exert sell pressure on the meme coin, which caused it to pull back slightly in the past three days. As a result, the Bonk price has entered into a consolidation phase between $0.0000088550 and $0.0000192765. If the crypto remains in this channel for the next 48 hours, then this period could be seen as an accumulation and liquidity building phase before a strong move to the upside if buyers decide to buy into BONK again. This potential bullish surge could see the BONK price flip the resistance level at $0.0000192765 into support. Thereafter, continued buy support could elevate the meme coin’s value to as high as $0.0000290295. Risk-averse traders may want to wait for the Bonk price to close a daily candle above $0.0000192765 before entering into a long position. This bullish thesis could be invalidated if the BONK price drops below the $0.0000088550 support in the upcoming days. In this alternative scenario, the crypto may fall to as low as $0.0000032570 within the following fortnight. Bonk Enters a Bullish Cycle Technicals suggested that BONK has entered into a bullish trend. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) were flagging bullish. The gradient of the MACD Histogram was positive, while the MACD line was positioned above the MACD Signal line. This suggested that BONK’s positive trend may carry on for the next couple of days. In addition to this, the RSI was positioned above its Simple Moving Average (SMA). This is indicative of bulls having more strength than bears. As a result, it will be easier for buyers to boost the Bonk price in the next few days than it will be for sellers to drag it down.
Long
by StevenWalgenbach
BONK Surges 28% As It Rises From the Ashes and Could Rise MoreThe Bonk price was in a negative trend over the past couple of weeks. During this time, a bearish trend line formed on the meme coin’s daily chart, as it printed a series of lower highs. However, the crypto now seems to be attempting to overcome the negative trend. Throughout the past day of trading, the Bonk price was able to break above the bearish trend line on its daily chart. It also continued to trade above this barrier at press time. Should BONK close today’s trading session above this mark, it may have a good launchpad to rise from. In this bullish scenario, the Bonk price may attempt a challenge at the $0.0000148068 resistance level. A daily candle close above this threshold could then be identified as a buy signal by traders. Should this happen, the altcoin may surge to the subsequent resistance level at $0.0000346810 in the following few days. This bullish thesis may be invalidated if the Bonk price closes today’s daily candle below the bearish trend line. As a result, the Solana-powered meme coin may drop below the $0.0000089940 support. Continued sell pressure could then push the Bonk price down to $0.0000046040 in the short term. Technical indicators suggested that BONK may close today above the trend line, and potentially continue climbing in the next 48 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators were flagging bullish. During the last 24 hours, the RSI line managed to cross above its Simple Moving Average (SMA) line. This is a significant bullish technical flag that suggests buyers have gained an upper hand against sellers on BONK’s daily chart. Meanwhile, the MACD line was also attempting to cross above the MACD Signal line. These two lines intersecting could signal the continuation of BONK’s positive trend.
Long
by StevenWalgenbach