#BONK : Big Moves incoming ⁉️
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- $BONK is currently bearish in higher time frames.
- The main level to break above is around 2950.
- Despite recent attempts, BONK has not been able to break above this level, confirming the bearish trend.
🪷 Fundamentals and Potential:
- BONK is gaining momentum, unlike other cryptos.
- There is an imbalance between price and demand, with increasing long orders and open interest.
- BONK has shown relative strength compared to other meme coins in the last 24 hours.
- If Bitcoin turns bullish, meme coins like BONK are likely to perform well.
🪷 Dependence on #Bitcoin :
- BONK's potential depends on Bitcoin's performance.
- The outcome of today's inflation rate and CPI numbers will impact Bitcoin's direction and, in turn, BONK's potential.
- If the news is good, BONK can rally; otherwise, the bearish technical structure will hold, and the price may drop to around 2500.
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