The Fibonacci 100% extension level has been met- now the Bonk price prediction, though still bullish, needs recalibration.
before retracing by 17.46% from that point in the past ten hours. The dip might not be at an end, as the liquidation heatmap indicated another 6.5% move lower was likely.broke out beyond the six-week range. A deviation below the range lows was seen in the first week of November.
The events since then, such as a pro-crypto U.S. president elected, have spurred bullish conviction in assets across the market. The RSI was resetting after a move to 81 on the daily chart, levels it previously reached in March 2024. Back then, BONK rallied 333% in nine days. The recent move from the range breakdown was 133% and took eight days before the dip started.The 1-week look-back liquidation heatmap highlighted the $0.0000307 and $0.0000345 levels as the closest magnetic zones for BONK. A deeper move to $0.0000276 is also possible, especially if BTC falls below $85.5k.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinionAkashnath Sumukar works as a Senior Journalist at AMBCrypto. Based in Chennai, India, he has been an avid follower of the cryptocurrency market since Bitcoin’s boom and bust cycle of 2017. A graduate in Chemical Engineering, he is an expert in technical analysis.
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