[00:05] Critical Resistance Level: Bonk needs to break above 1.19589 to return to uptrend, otherwise market remains uncertain and rangebound with continued downward pressure
[00:36] Wave Two Correction Thesis: Elliott Wave analysis suggests Bonk is still in wave two correction pattern, though thesis is not very strong due to unclear data from October 10th low
[00:53] Failed B Wave Rally: The B wave rally got rejected at resistance and couldn't break above Fibonacci resistance or reach the October 10th high, indicating weakness
[01:04] Wave Three of C Decline: Multiple chart analysis suggests Bonk is likely moving down in wave three of C, explaining the current downward pressure across the market
[01:27] Testing October 17th Low: Price is currently testing the October 17th low support level, with expectations of moving lower in wave three before potential wave four bounce
[01:42] Short-Term Bearish Outlook: Pressure remains downward in very short term, requiring at minimum a break above October 29th high at 15190 to shift momentum