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Bitcoin is showing good recovery momentum after a recent test of the $62,500 zone, where buyers clearly defended their positions. However, right now the chart is facing serious resistance.
❓ What we have at the moment: ➡️ Technical picture: The price has entered the green zone of the local trend, which gives the bulls the advantage at the moment. Support in the $63,000 area has held, but now we are observing consolidation. ➡️ Order Flow: On the right of the screenshot, a high concentration of dense sell orders (red block) is clearly visible. Large limit orders in the $64,300 - $64,350 range are holding back the momentum and preventing the price from breaking through the corridor with a jump. ➡️ Critical point: The appearance of a red “Stop” mark on the chart signals that the market has entered a zone of increased risk, where either profit-taking or a local trend break usually occurs.
📊 Where are we going next? 📈 Scenario A (Breakthrough): If buyers absorb the current sales volumes and the price consolidates above $64,500, a direct path will open to testing the psychological level of $65,000 and above. 📉 Scenario B (Retracement): If limit sellers prove stronger, we expect a local pullback to the $63,500-$63,800 zone to recruit new liquidity.
Over the past 24 hours, the price of $BONK has fallen by 14.24% (to $0.00000277), which is significantly worse than the dynamics of Bitcoin (-1.05%). The main reason is the pressure on the market caused by the withdrawal of funds from BonkDAO wallets.
📊 Key facts: ➡️ Reason for the fall: BonkDAO transferred $21 million on the exchange (Binance, OKX, Coinbase), which created negative selling pressure. ➡️ Technical signals: The RSI index fell to 16.54, indicating an oversold state of the asset. ➡️ Volumes: Trading volumes for the day increased by 90% (to $153.6 million), which confirms high capital activity.
📉 Short forecast: We are currently observing pressure on the price. The key support level is $0.00000255. If it fails, the next major target will be $0.00000200.
⚠️ What to watch out for? Will BONK sales continue on exchanges, or will the situation stabilize in the next 24-48 hours?