The analysis focuses on the BONK/USDT chart, noting a strong liquidation event followed by a 290% recovery. The current price hovers below previous swing highs. There's an absence of micro-structure detail within the vertical candle, making identification of micro-structures difficult. The analysis watches the local uptrend if bulls can push above the previous swing high around 0.000022221 and the recent selling volume start point around 0.000020381. Further upside momentum can target the resistance zone, higher prices can be unlocked which needs to break above the July swing high. The analysis mentions Saturday low has to hold to continue the uptrend, with a level at 0.000013007. If this level breaks the bulls will start to experience problems. The analysis suggests the cryptocurrency has been in a ranging market since December 2023.