Technical analysis using the attached charts:
1. Strong upward momentum:
Looking at the monthly chart (1M), it appears that the price has broken through the key Fibonacci retracement levels (1.618 and 2.618) and is now approaching the 4.236 area, indicating a high probability of a continued uptrend. This action confirms the strong buying momentum supported by high volume.
2. Weekly chart confirmation (1W):
The weekly chart shows that the currency is moving towards new resistance levels after surpassing the pivot points (PP 1.618). The Relative Strength Index (RSI) is also very high, which shows that the high demand continues despite the price reaching overbought areas.
3. Daily chart (1D):
The price is making consecutive highs, indicating a new price and time cycle heading towards zero cancellation as we expected earlier. Clear "BUY" signals support the continuation of the short-term uptrend.
Analysis of time and price cycles:
Based on the analysis of the time cycles we mentioned earlier, the coin shows an amazing compatibility with price cycles that reinforce the continuation of the rise.
Action fractals indicate the repetition of the same previous patterns with wider ranges, indicating that the currency is moving to new targets.
Recommendations and conclusion:
1. General trend:
The uptrend is clearly dominant. Steady break above current levels suggests a possible zero cancellation soon, with strong support from liquidity movement and technical indicators.
2. Target levels:
Short term: 0.00006.
Medium term: 0.00007.
If the current momentum continues, we may see new levels leading to the cancellation of zero.
3. Tips for investors:
Based on our previous articles, we are now in the confirmation phase of the bullish move.
Investment strategy: Distribute capital gradually and exploit price corrections to enter new positions.
4. Warning:
Although the currency is showing strong momentum, one should always be cautious and watch the levels carefully, especially as the RSI reaches overbought areas.
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Conclusion:
Based on technical analysis, time cycles and fractals, BONK offers an attractive investment opportunity, provided that a sound risk management strategy is adhered to. The coin shows great potential to continue rising and cancel a new zero soon, as we predicted in our previous analysis.
