Bless Coin Elliott Wave Analysis: Impulse and Correction SetupBless Coin (BLESSUSDT) is currently showing signs of a high-volume impulsive move 🚀.
The market structure suggests that momentum has peaked, and now a corrective stage is forming.
📈 Current Setup
The chart indicates the development of an Elliott Wave structure.
Price is either entering the fourth sub-wave correction 🔻
Or preparing to start the fifth main wave of the sequence.
Both cases imply increased volatility and a critical turning point.
🔻 Correction Scenario
If this is wave four, a downward correction is likely.
First target area sits around 0.038 support.
This zone aligns with structural demand and prior consolidation.
Traders can consider tactical short entries if price confirms the breakdown. 📉
⚡ Alternative Scenario
If wave five is starting instead, upside continuation is possible.
Key resistance lies above recent highs, with expansion potential.
Traders should remain flexible, as the wave count can shift.
💡 Strategy Guide
Short positions: wait for confirmation of correction.
Entry signals: trendline break, rejection candles, fading volume.
Stops: above recent highs to control risk.
Profit target: near 0.038 zone.
For longer-term traders, patience is key.
Waiting for correction to finish can set up a stronger long entry for the next impulsive leg.
