Technical analysis by ULYSSESTRADER about Symbol BONK: Buy recommendation (8/23/2025)

📈 BONK Long Setup (5m timeframe, OKX Perp Swap) I entered a long position after spotting momentum recovery following a prolonged downtrend. The trade idea is based on: 🔹 Entry: Around 0.000023024 (support zone & EMA retest). 🔹 Stop Loss: Below 0.000022152, protecting against a breakdown of the recent support structure. 🔹 Target (TP): Around 0.000024450 (previous resistance & liquidity zone). Reasons for Entry: ✅ Trend Shift – Price broke above short-term EMAs after extended downside pressure. ✅ Bullish Divergence – Oscillator shows higher lows while price made lower lows (potential reversal signal). ✅ Volume/Momentum – Momentum indicators in the lower panel are recovering from oversold levels, suggesting buyer strength. ✅ Risk-Reward Ratio – Approximately 1:2.5, making this setup favorable for a scalp/swing attempt.