#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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$BTC #memecoin $SOL #solanameme #trading