โ ๏ธ๐ $BONK โ BEARISH ROUND TOP FORMING | MOMENTUM WANING
๐จ Bonk is flashing warning signs as a classic bearish round top takes shape โ often indicating slowing bullish momentum and potential reversal.
๐ Key Technical Insights:
Pattern: Round top suggests price exhaustion
Volume: Declining, with sell pressure increasing
RSI: Flattening, signalling indecision
MACD: Near bearish crossover
๐ณ On-Chain Data:
Whale distribution rising (tokens moving back to exchanges)
Exchange balances increasing, indicating potential sell-offs
๐ Market Sentiment:
Social hype cooling, momentum fading
Memecoins rely on FOMO, and current signals suggest fire is fading
โณ Trader Caution:
Manage risk tightly
Watch for volume spikes or fakeouts
Break below neckline could trigger accelerated downside
๐ง Stay alert โ Bonkโs party might be ending, or preparing for a deeper move.
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