$BMT is indeed entering the 5th Elliott Wave, and Wave 4 retraced around 0.6 (or 60%) of Wave 3—a deep but still valid correction—then a Wave 5 move aiming to surpass the previous Wave 3 high at 0.0977 makes sense.
A few things to watch for confirmation:
Volume: Ideally, Wave 5 should show rising volume if it's impulsive.
Breakout above Wave 3 high: This would validate your target zone.
Bearish divergence risk: Keep an eye on RSI or MACD—if price makes a new high but indicators don't, that could signal a weakening trend.