EuroMotif

BONK.usd heads up at 1345: Break could run, or reject to new low

EuroMotif Mod Updated   
CRYPTO:BONKUSD   Bonk
BONK is about to hit a Golden fib at 0.00001345.
Sister golden fibs above have rejected with gusto.
Break would signal strength again, or reject doom.

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Comment:
> BOOM <
1345 break and run indeed!

Break and Retest with a PING was the perfect entry

First 2 targets hit for 61% and 84% gains
Closed 50% at golden fib of 2166,
Closed another 25% at 2480 blue fib
Letting the rest ride with trailing stop

By "Trailing Stop" I mean putting it behind a fib:
And thusly keep moving it to next fib and hope it supports for continuation.

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Comment:
Golden fib bottom?
Possible support at 216.6k , now watching 247.9k for break or reject as next clue.

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Comment:
Followup to last snapshot, we broke 247.9k resistance
and then retested with a PING.
"Ping" = exact ricochet from fib that you can almost HEAR.

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Zoom IN (m5)
PERFECT Ping: exact, clean, and violent.

Zoom in more (m1) looking at current PA
Got a Ping on fib at 282.9k, but looks like bulls ran out of fuel.

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Zoom back out (h1)
So now we watch 283k above and 267k below to see which way it breaks.

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Comment:
Found some support and possible "higher low" at 216.6k golden fib

Let see if bulls can hold it.

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Comment:
Back to the scene of the crime, 1345
Notice the numerous PINGs on the way back.
"Ping" like "give me a Ping Vasilly, One ping only"
This exact reflection confirm and exite all of the fibs.

Zoom in (m15) with some notes
Lots of Pings say solid fibs and to look for:
1345 for a clean Ping bounce to enter, or
1539 to break and retest with a Ping.

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Comment:
Follow up to last snapshot
- BOOM - break and rocket.
We got the bounce on golden fib,
launched into the golden above,
stalled for a bit then blasted thru.

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Zoom in (m34) and placing a fib on the bounce
WOW, absolutely STUNNING fibnastics.
EVERY major turn at EXACTLY the fibs.

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Zoom back out a bit and adding the new fib from above, to our existing:
We can see some clear zones of interest.

This bounce is probably DONE,
but lets see if bulls can go again.

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Comment:
So last update called the local top
We have since been range bound,
defined by our resistance around 2960/90,
and Golden fib support at 2166 being strong.

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Zoom in a bit (h1)
Still getting plenty of PIngs (exact reflections) so we can be confident in all of our fibs still.

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Zoom in MORE (m5) and putting a fib on the last bounce
We have nice stair-stepping up the fibs,
the first requirement for a SUSTAINABLE wave.

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Zoom back OUT with our new fib added to existing fibs:
We can see that 2827/30 will be our next serious hurdle,
BUT this wave could be done at the blue 5.236 at 2778.

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SUMMARY:
- Correction may be done.
- Last wave up might have to retrace.
- Our next serious resistance is at 2827/30

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Comment:
(( ( PING ) ))
In followup to the last snapshot, we topped EXACTLY where we expected resistance.

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Zoom in (m1)
WOW, absolutely perfect reflection off the double fib around 2830

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Adding a fib to this drop (still on m1)
That looks pretty good for placement,
based on the reactions at extensions,
so this looks good to keep for a while.


Zoom out a bit (m5) and adding some zones and notes:
First leg is steep, not a good sign for bulls.
We need slowing of the drop by the 2.618''s,
then we have strong existing support at 248x
but this wave "wants" to reach 4.236 at 2450.

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SUMMARY:
- Bounce hit target exactly, and reversed.
- The reversal looks pretty ugly right now.
- Bulls want to hold 2480, and MUST hold 2450
Comment:
Our "Speed Brake" did its thing
Gave a decent bounce that pierced major fib at 2673
That should give our "Strong Support" a decent chance.
Comment:
Here we are:
At our "Strong Support" zone, now to see if it holds or not.
Comment:
BOOM, "Wave Target" was the target
Nice bounce marking the end of that wave.
Need to evaluate this bounce for new clues.
No idea if bottom, but looks like a good shot.

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