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 Bon Bonk is actually one of
the best performing coins at the moment
at least sort of in the rotation of
coins that I cover you can see here that
the uh rally was quite substantial the
rally from the 13th of April High I mean
there has been a rally
on most crypto charts from that low
however some have already taken out that
low or at least somewhere down here very
close to breaking um Bon hasn’t done
that Bon is actually still consolidating
on a pretty high level and one of the
few coins that could actually develop an
Impulse here to the upside from the 13th
of April low which is quite interesting
despite Bitcoin heading down potentially
impulsively Bon is going the other way
good evidence that no not every coin is
moving with Bitcoin so looking at the
pattern I am watching for the yellow
count to form five waves yeah so from
the 13th of April low which I have
marked as potentially wave four but that
needs proving with one more high I’m
going to highlight okay that was
probably the wave for low um obviously
we had the wave four low here and then
three waves up I can potentially count
that already as five waves up but it
counts better as three waves to the
upside then here the fourth wave as a
sideways consolidation pattern probably
a triangle in this fourth wave and then
the fifth wave to the upside could still
unfold wave five of circle one so this
is one more leg up that is missing to
form a very clear five-wave pattern and
then from there we could be looking at
an ABC structure to the
downside which could offer the
opportunity to add in a potential
uptrend okay because the uptrend is
confirmed basically the continuation to
the uptrend after this long correction
that started early in March the
continuation of the uptrend is confirmed
if we get five waves up now you don’t
normally want to buy as soon as you have
five waves up because that means you
basically buy at the top because
whenever we have a five wave to the
upside completed it typically indicates
I mean there’s never a guarantee but it
typically indicates based on
probabilities that this five wave
Advance will be corrected at least it
should be corrected and we will then be
dealing with this sort of ABC pullback
afterwards this is the corrective
structure in three waves that con
corrects the five wve advance and that
gives us this 535 structure because the
next wave up should then be a five wve
move again followed by three waves down
and five waves up and this is how an
uptrend is building and progressing the
five wave patterns are the motive waves
which actually lead to progress on the
chart so if we go to the 1 hour chart
then first of all it’s important to
recognize and highlight again that of
course it’s not given you know that we
get one more high it’s more like okay if
we get five waves up and I think you
know there’s a good chance I mean the
performance is okay it seems quite
impulsive to the upside so you would
expect that there could be another high
at least you know but we obviously need
to be very mindful that if the price
breaks below that 50% retracement level
here on the chart 1
97651 that most likely we had a three
wave top and the B wve topped in a
larger ABC flat and the fourth wave is
then still unfolding but for now we give
it we give the Bulls the benefit of the
D and we’ll see if this
yeah potential pennant is actually
breaking to the upside looks a bit like
a bullish pennant now I have to say
these potential triangle patterns they
often morph and transform into something
different it would be too easy to say
okay this could be a wave for triangle a
b c d e it could be finished I mean yeah
it could be but it could also be an
internal triangle it would be ideal if
this was a way for triangle but it would
be a bit too easy just be aware that
we’re now heading into the Apex of a
triangle
structure and from there quite a uh
quite strong volatility would be
expected normally you you can imagine it
like a like a spring you know that gets
condensed and then when the energy is
released it sort of just escalates that
is often what happens I mean there are
never guarantees in these markets but
pay attention that this one could be
close to a breakout and obviously if it
breaks down then you have the two more
Fibonacci levels that could offer
support but if it breaks down it most
likely was not an Elliot wave triangle
it certainly was not a wave four
triangle might have been an internal
triangle in a larger ABC structure but
it might then move into a wxy but if it
breaks to the upside we might just see
one more High and a break above the next
Red Line here at around 29605
there would be good confirmation that
wave five is unfolding and it might
reach that next resistance level up
there which is at um what is that 369
220 so looking quite good potential
impulse we don’t have many in the
current market so it’s something
interesting to observe and in the wave
two pullback this will become an
interesting one that’s my update about
Bon hope you like the update if you did
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lot for watching bye-bye

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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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