BONK Analysis

Bonk has moved up impulsively from our previous support zone and broke out of the Elliott wave triangle. BONK has fulfilled its requirement to the upside. RSI bearish divergences are starting to show. A pullback may happen any time now, but direct further upside is possible in this market. A break below 0.x3718 will make a larger 2nd wave correction more likely. A Wave 2 pullback should reach 0.x2786 followed by a 3rd wave rally exceeding 0.x6000