BONK is flashing a strong bullish breakout signal after clearing a falling wedge patternāand the vibes are looking good! Letās unpack what this means, where the key levels lie, and how you can approach the move smartly. š
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š„ Whatās the Current Setup?
Falling Wedge Breakout: BONK has surged above a ~6-week descending wedge with volume backingāclassic reversal formation. It's trading around 0.00001506, holding above the wedge neck zone 0.00001450ā0.00001500 .
Acceleration & Volume: Trading volume jumped ~38% with open interest risingāon-chain signals show rising accumulation from traders .
Momentum Shifting: RSI is climbing above mid-50s, MACD flirting with a bullish crossover. A healthy sign of upside continuation .
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šÆ Key Levels & Targets
Price Zone Level (USDT) Importance
Immediate Support 0.00001500 Former wedge neckāprotects the breakout
Entry Area 0.00001506ā0.00001520 Post-breakout confirmation zone
Resistance #1 ~0.00001734 50% Fib from recent swingāwatch reaction
Stretch Target 0.00002218ā0.00002500 78.6% Fib & historical resistance
Invalidation <0.00001450 If price retreats below wedge base, breakout fails
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š What Could Happen Next?
1. **š„ Bull Run**: Hold above 0.00001500 with volume and clear resistance around 0.000017ā0.00001734 ā rally toward 0.000022ā0.000025+.
2. **š Sideways Grind**: Price may consolidate between 0.000015ā0.000017āideal for small scalps.
3. **ā ļø Breakdown Risk**: Drop below 0.00001450 could lead to deeper retrace to ~0.00001300.
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š Trade Tips for #BinanceFam
Volume Confirmation: Watch for rising volume as price tests 0.00001734 ā vital for breakout strength.
Candle Clarity: Prefer daily/4h closes above key levelsāavoid wicks that signal rejection.
Risk Rules:
Entry: Once price stabilizes above 0.00001506ā0.00001520
Stop-Loss: Just below 0.00001450
Take-Profits:
TP1 at ~0.000017
TP2 at ~0.000022ā0.000025+
Momentum Tailwinds: Rising open interest, volume, and technicals alignāwatch for quick moves .
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š Why This Breakout Matters
Retail & Derivatives Activity: Nearly 98% volume spike and $10M+ open interestāclear sign meme interest is back strong .
Strong Pattern Support: Falling wedge plus harmonic/impulse structure suggests buyers are stepping up .
Community & Ecosystem: Partnership moves, DAO activity, and burn mechanisms are reinforcing the momentum .
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ā TL;DR
Breakout alert: BONK smashed through a falling wedge and reclaimed critical support.
Key zones: Entry around 0.00001506ā0.00001520; targets at 0.000017 ā 0.000022ā0.000025.
Cut losses if it drops below 0.00001450.
Catalysts: Rising volume, open interest, and on-chain engagement add fuel.
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Are you riding this momentum to the moon š or waiting for confirmation? Drop a š if you're long, or a š§ if you're watching supportāshare your plan below! š