Bonk Cryptocurrency Price News Today – Technical Analysis Update! Elliott Wave Price Prediction!

Bonk Cryptocurrency Price News Today – Technical Analysis Update! Elliott Wave Price Prediction!

[Music]
hello and welcome to another update
video about Bonk yeah Bon has actually
reacted nicely to the micro support area
as communicated in the last few days
here this area highlighted in Orange is
the upper micro support area that needs
to hold for upside trend continuation we
have four Fibonacci levels where we can
watch for reaction actually the price
already reacted at the first one looking
at this obviously we are talking about
um here a potential five wve move
unfolding to the upside in the yellow
count I can highlight only to you that
it doesn’t look like a healthy Wave 4 to
me yet so obviously the idea is okay we
could have bottomed here yeah in this
main wave four okay after we completed a
sort of a running flat correction as
discussed in recent videos over the last
few days but we need evidence for that
and I really only get evidence for that
that this fourth wave is bottomed should
I see five waves to the upside that move
above the 1.618 extension at two well is
that 232
423 right so but then it’s all about
okay identifying five waves is to a
degree interpretation
okay so very interpretive work 2 de
subjective but there are some Fibonacci
levels that obviously need to be reached
normally I say a third wave should reach
the 1.38 extension the 1.618 extension
is then sort of the first ideal Target
for the fifth wave but then also we need
to look at the really the micro
structure so for
me this
here could have been wave three but then
we also need to consider the length and
duration of of wave two and how does
that look compared to the wave four for
me that’s not
yet clearly a wave four it might be a
wave four over one lesser degrees so
I’ll show you what my view is we can
actually recognize the waves quite
nicely here at the moment on the Bon
chart this could be a third and then the
fourth so that means we will have to
adjust the support region if we push any
higher okay not really moved much um so
it’s more like that it did react to the
support area which is great but I’m not
convinced that this was the main wave
four yet so my interpretation would be
that we have just completed only or
we’re just in the process of completing
the third but the third gets one more
extension one two three four five just
because what we’ve seen in terms of
fourth wave was so shallow and anemic so
it’s not a reliable fourth this looks
much better it was a fourth but one
lesser degree support area still worked
but that means we will have
to um we will have to watch for possibly
another four five pattern this third can
easily extend third waves like to do
that that of course decreases the
probabilities for one more low doesn’t
rule it out the only I’m thinking it
could still
be it could still give us one more low
um but then most likely in some kind of
a different structure
so for example it’s possible to say this
is a
WX y again another one so it becomes
very messy and
then I would only keep that on the chart
really as long as we haven’t seen five
waves up once I see a five wave I’m
already treating it as if it’s bottomed
because I’m adding the micro support
areas and everything so and this would
then be another ABC or something right
um just not very very reliable I’d say a
b c it’s getting very protracted this
correction if we get another low but I
cannot rule it out right can’t rule it
out we can only really say the
likelihood for that white count allowing
for one more low has drastically reduced
with five waves up and at the moment
unfortunately this still looks like a
three-wave move up to me I would say in
an alternative interpretation maybe it’s
five waves up already now CU we’ve
reached the FIB levels that we need to
reach but from a structural point of
view okay acknowledging micro patterns
have lots of distortions um I’d say this
is only the third that means pay
attention to from an action actionable
point of view pay attenion to the next
upside levels the 1.618 extension the 1.
786 and the 200% extension so at 232 423
2
46259 and
26582 then from there as soon as we have
a top in place I have to adjust the wave
four support Zone and if that holds we
can get another high in wave five that’s
my perspective on the Bon chart at the
moment hope you like the update if you
did please hit the like button leave a
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lot for watching
bye-bye for

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Ethereum ETH Price News Today – Technical Analysis Update and Price Now! In this video I talk about a technical analysis of the Ethereum Price and I talk about some important price moves that are happening right now! Ethereum Price Prediction! I also talk about Elliott Waves!

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