Bonk Market Analysis – May 10 Update
Overview: Crypto markets have been lively, and we're capitalizing on some sharp moves. In the past two days, we booked a 25% gain in private trades, with PEPE alone delivering 17% on Friday — a day that truly lived up to its reputation as a “blessed” trading day.
Now the focus shifts to BONK, which is showing promising signs of a breakout.
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BONK/USDT Technical Setup:
Pattern: A bullish pennant is forming on the 1-hour timeframe.
Trendline Support: Price is currently touching trendline support, making this a potential early entry zone.
Alternative View: A minor double top is visible on the 15-min chart, but the larger pennant structure dominates.
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Trade Setup:
Entry: 0.00002170
Stop-Loss: 0.00002149 (-2.6%)
Take-Profit: 0.00002651 (+22%)
Risk-to-Reward Ratio: ~1:8.5
This is a slightly risky early entry, but the positioning near support justifies the trade logic. If BONK breaks above the pennant, it could easily target the 0.00002650 region.