🚀 According to AMBCrypto: $BONK Bullish Run Begins

BONK faced rejection at the $0.0000293 level on the 24th and 25th of April. It was a key Fibonacci level, one that had previously served as resistance in late March.

Moreover, the retracement in mid-April took the meme coin nearly to the February lows.

The higher timeframe market structure would only flip bearishly should prices drop below the swing low at $0.0000176.

However, the range formation (purple) could see prices consolidate within it, unable to resume the uptrend.

The RSI was at 56 and the CMF was at +0.1. Together, they highlighted bullish momentum and strong capital inflows. However, it might not be enough to halt the meme coin from a near-term decline.

The technical range outlined on the price chart showed the lows were at $0.000014. The liquidation heatmap showed that the $0.000021 and the $0.0000315 levels had a large concentration of liquidation levels.

Therefore, in the next week or two, it was more likely that BONK would oscillate between these levels than move toward the $0.000014 range low.

Hence, swing traders could use this information to form their trading biases.