Who would have thought that today the pumps would be even bigger than yesterday? Bonk crypto is thriving in the midst of market-wide pumps. Bears are definitely suffering while bulls are enjoying the sight of continued market strength.
Bitcoin is trading at above $94,000 at the time of writing. Closing easily above $92,000 and continuing to grow provided great relief for alts, many gaining more than 20%.
Classic gap fill from daily trend to daily EMA100 – I was talking about this pattern few days ago in the group.
It happens on all timeframes and it’s pretty acurrate most of the time in both ways.
Here is also next trades I will look for with $BONK. pic.twitter.com/An9ldRK9y8
— G O N Z O (@GonzoXBT) April 23, 2025
Many more traders on CT are expecting the BONK price to print a new ATH eventually. Some are posting PnL pics in the millions with very early entries. And one does not simply stand on the sidelines of such action. Though when is it a good time to jump on the train?
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BONK Crypto Pushing Up With Strength: Next Targets
(BONKUSDT)
The BONK 1D chart shows clear price action, allowing us to draw horizontal lines across key levels. Since the bottom at $0.09, BONK has gained +70%. In my opinion, it is too late to open positions now, and I would wait for the market to settle down a bit.
The Cup and handle pattern is one possibility for price action; however, first, it’s clear that the zone between 0.0155 and 0.017 needs to be reclaimed. Afterwards, a 50% move to 0.025 could be expected.
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Lower Timeframe Analysis – 4H Breakout
(BONKUSDT)
The 4H chart gives us good insight as well. Price has broken and closed one candle above the lower red line – previous 2 highs. Since it has dropped back to the first key level, the first sign of resistance. I really like that we are above all MAs and MA100 will soon cross above MA200 – sometimes referred to as the golden cross.
It can be expected that the price will consolidate in this range for a while until RSI cools down and goes back to 50-60 points. I’ll keep an eye on that, and the last high is $0.014, which is a potential point of support and entry.
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BONK crypto set to Explode: Alt Season Incoming?
- Key zone to reclaim is $0.0155 – 0.017
- RSI looks toppy on 4H timeframe
- Potential Cup and Handle bottom pattern forming
- Possible long entry point at $0.014
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