#BONK about to Fly 🚀🚀🚀
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- Bitcoin is trying to break above $69,500, which is expected to be tough. If successful, it could reach $71,000 by the evening.
- Meme coins, including BONK, are performing well. BONK is currently in the top five performance-wise.
- I believe that BONK is bullish after the momentum it had on Monday and has been in an upward channel since then.
- However, I caution that weekend moves are less reliable due to lower volume, making it easier to manipulate cryptos.
- The main resistance level for BONK is around 3637. I suggest waiting for a bullish confirmation above this level before entering.
- If Bitcoin remains bullish or stable, BONK is likely to break out and move towards its all-time high around 4100.
- However, if Bitcoin turns bearish, the situation could change, and BONK could drop back down into a consolidation channel.
- Waiting for a 4-hour breakout above 3637 before entering BONK is recommended.