$BGB - Bitget's flagship coin.

This is Bitget's platform token. I've been looking at this chart for a few days and could clearly see the retrace wasn't over.

The volume started to pick back up again early 2023 to form an impulse. Where this is situated in the grand scheme of things, only time will tell, but this structure most certainly needs a wave 5. Unless this is nothing more than an ABC with higher than average volume. I believe a break below 0.238 would confirm the corrective conclusion.

Please notice the Shallow retrace of (2) on the chart. This is what allowed me to suspect a deeper correction in this wave (4) we are currently in. I'm expecting for us to test the 33 cent mark rather soon.

Safe Trades to all!

Comment:

Target for longs hit. Im underexposed to this coin unfortunately. I'll be DCA'ing in spot.

If the 5th wave turns out to be extended, this could go pretty high. Uncertainty in the markets could certainly cause the 5th to be truncated as well; if that is the case, I will reassess the corrective structure.