Bonk (BONK) is consolidating at the Golden Pocket Fibonacci retracement, supported by weekly support and the point of control. This confluence zone could spark a bullish rotation if volume inflows sustain.
After a recent retracement, BONK has reached a high-confluence support region that aligns with the Golden Pocket Fibonacci retracement. This area is further reinforced by weekly support and the point of control, creating a structural pivot for price action. The bullish market structure remains intact with higher highs and higher lows, but continuation now depends on whether demand confirms at this level.
Key Technical Points:
- Golden Pocket Confluence: BONK is holding support at the 0.618 Fibonacci retracement, weekly support, and point of control.
- Volume Confirmation Needed: Sustained bullish inflows are required to validate a reversal.
- Upside Target: A rotation could extend to daily resistance and the prior swing high.
Main Analysis:
The Golden Pocket Fibonacci retracement zone has historically been one of the most reliable levels for trend continuation, and BONK’s price action is now testing this area. With weekly support and the point of control also reinforcing this level, the current setup suggests a strong foundation for a reversal. Price action at such zones typically reflects accumulation before a renewed move higher, provided buyers remain active.
The broader market structure continues to favor the bulls. BONK has consistently posted higher highs and higher lows, a clear signal that demand remains present on larger time frames. While the retracement into the Golden Pocket may appear corrective, it has not broken this structural pattern. Instead, it provides an opportunity for bulls to reassert control.
Volume profile data is particularly important at this stage. Early signs of bullish inflows are appearing, hinting that demand is returning to support the structure. For the reversal to be sustained, this momentum must continue, ideally showing consecutive bullish volume candles as price lifts off support. Without such participation, BONK risks stagnation at this zone or even a deeper corrective move. Traders should therefore keep a close eye on volume metrics in the coming sessions.
What to Expect in the Coming Price Action:
If BONK holds the Golden Pocket confluence and volume continues to build, the probability of a rotation higher increases substantially. The next major resistance lies at daily resistance and the prior swing high, where supply will likely emerge. However, if BONK loses this Golden Pocket zone on a closing basis, it would invalidate the bullish scenario and open the door to a deeper correction.
After a recent retracement, BONK has reached a high-confluence support region that aligns with the Golden Pocket Fibonacci retracement. This area is further reinforced by weekly support and the point of control, creating a structural pivot for price action. The bullish market structure remains intact with higher highs and higher lows, but continuation now depends on whether demand confirms at this level.
Key Technical Points:
- Golden Pocket Confluence: BONK is holding support at the 0.618 Fibonacci retracement, weekly support, and point of control.
- Volume Confirmation Needed: Sustained bullish inflows are required to validate a reversal.
- Upside Target: A rotation could extend to daily resistance and the prior swing high.
Main Analysis:
The Golden Pocket Fibonacci retracement zone has historically been one of the most reliable levels for trend continuation, and BONK’s price action is now testing this area. With weekly support and the point of control also reinforcing this level, the current setup suggests a strong foundation for a reversal. Price action at such zones typically reflects accumulation before a renewed move higher, provided buyers remain active.
The broader market structure continues to favor the bulls. BONK has consistently posted higher highs and higher lows, a clear signal that demand remains present on larger time frames. While the retracement into the Golden Pocket may appear corrective, it has not broken this structural pattern. Instead, it provides an opportunity for bulls to reassert control.
Volume profile data is particularly important at this stage. Early signs of bullish inflows are appearing, hinting that demand is returning to support the structure. For the reversal to be sustained, this momentum must continue, ideally showing consecutive bullish volume candles as price lifts off support. Without such participation, BONK risks stagnation at this zone or even a deeper corrective move. Traders should therefore keep a close eye on volume metrics in the coming sessions.
What to Expect in the Coming Price Action:
If BONK holds the Golden Pocket confluence and volume continues to build, the probability of a rotation higher increases substantially. The next major resistance lies at daily resistance and the prior swing high, where supply will likely emerge. However, if BONK loses this Golden Pocket zone on a closing basis, it would invalidate the bullish scenario and open the door to a deeper correction.
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Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.