#BONKUSDT has had a rough week, down 22% from its July 22 high, but may be turning a corner. It followed Bitcoin’s momentum but has maintained a bullish structure since then

At the end of last week, it broke through a key resistance level and was poised for a sharp rise. But this did not happen due to weakness on the bulls at $BTC and $BONK . Can this weekend reverse the decline of the past week?

The 12-hour chart shows that the market structure remains bullish. A break above $0.0000277 is a breakout of the bullish market structure. The higher low since then of $0.0000282 has yet to be breached

A breakout would mean a 12-hour trading session close below that level. Instead, the price climbed from the support level. It could also be because Bitcoin has rallied from $64,000 to $67,100 at press time, a gain of 4.7%

The CMF is +0.03, indicating a lack of significant capital inflows. The RSI is at 52, but momentum is shaky. OBV pulled back over the past week but is trending higher in July

The $0.000025 liquidity pool has been swept away and the price has bounced higher. However, liquidity concentrations at $0.00002 and $0.000017 are larger

If the market structure turns bearish, these will serve as the next price targets

The outlook is positive for BONK, with indicators returning to neutral after falling over the past four days. If Bitcoin encounters a reversal in the $69,000 area, BONK will likely follow suit and give back its gains. #美国PCE通胀放缓