Bonk dey test Daily POC Resistance for Weak Volume, E dey Risk Drop
Bonk don test im daily point of control (POC) support again for di 0.618 Fibonacci level with plenty volume wey dey flow, dis one dey make di market structure strong for bullish side. But now, e dey face POC resistance as trading volume low, dis one fit make people doubt how strong di rally be. Di technical analysis show say e dey make higher highs and higher lows with volume profile dey accumulate, but if e no fit take back POC resistance, Bonk fit turn go daily support zones. Traders suppose watch well as e close well pass di POC resistance with more volume to sure say di bullish trend go continue towards di next value area high. Key things to check na daily closes, volume trends and POC levels to know di direction and manage risk.
Neutral
Di news show both bullish and bearish signal. On one side, Bonk wen succefully retest di 0.618 Fibonacci level and overall higher highs/lows show say technical strength dey and e fit make e continue go up. On di other hand, di current POC resistance test wey get weak trading volume fit cause risk say e go comot back to di daily support. For short term, if e no fit break di resistance e fit make dem start bearish rotation, but if e close high with plenty volume pass POC e go bring back di bullish momentum. Dis mixed view make di overall impact neutral.