This video provides critical Elliott Wave technical analysis for Bonk cryptocurrency traders facing current market pressure. The analyst identifies Bonk as range-bound and uncertain, requiring a break above 1.19589 to resume uptrend momentum. Key actionable insight: the current Wave 2 correction hasn't bottomed yet, with the market likely in Wave 3 of C downward movement. Specific price levels include testing the October 17th low, with downward pressure expected to continue through additional Wave 4 and 5 formations before a potential bottom forms. Short-term resistance sits at 1.15190 (October 29th high).