$BGB - Elliot Wave Analysis on 30mins Chart

📈 Wave Count Summary (Impulse Completed)

✅ Wave (1) to (5) is now complete, topping out at $4.696

This marks a full 5-wave bullish cycle, signaling that a corrective phase is likely next

🔽 ABC Correction Incoming?

You’ve mapped out potential Fibonacci retracement levels for the corrective (a) wave, which aligns with Elliott Wave expectations:

0.382 retracement → $4.599

0.5 retracement → $4.569

0.618 retracement → $4.539

These are classic Wave A pullback zones in Elliott Wave’s 5-3 structure (5 impulse + 3 correction).

⚠️ Key Levels to Watch

Support zone: $4.54–$4.60

Invalidation: Drop below $4.48 would signal deeper correction or a shift in wave structure

Bullish Continuation: Breakout above $4.70 = wave extension (not correction)

Conclusion: After completing wave (5), #BGB may dip into one of the three Fibonacci zones before launching Wave B, typically a bounce/retest phase.

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