$BONK Spotting a BONK Bullish W Pattern
A bullish "W" pattern, or double bottom, forming on Bonk's chart signals a potential powerful reversal from a downtrend to a new upward trajectory for this popular meme coin.
This pattern emerges when BONK establishes two distinct lows at a similar support level, creating the "W" shape with a peak between them that forms a resistance neckline. The pattern gains strength if the second low occurs on lower volume, indicating selling exhaustion.
The buy signal triggers on a decisive breakout above the neckline with a surge in volume. This projects an upward move with a minimum target equal to the pattern's depth.
For a volatile asset like BONK, this pattern suggests a major sentiment shift, where buyers are aggressively stepping in to reverse the trend.$PIPPIN $POWER
