BNBUSD Elliott Wave Technical Analysis For Thursday, January 19

Binance/ U.S.dollar(BNBUSD)BNBUSD Elliott Wave Technical Analysis

Function: Follow trend Mode: Motive Structure: Impulse

Position: Wave III Direction Next higher Degrees: wave III of Motive Details: Wave III is usually 1.618 x Wave I in length. Wave Cancel invalid level: 183.4

Binance/ U.S.dollar(BNBUSD)Trading Strategy : Binance coin has recovered well from the 220 level and managed to break the MA200, signaling the weakening of the downtrend.

As a result, the trend may change to an uptrend. And there is a trend towards the price target at level 568, but even so, this is only the beginning of an uptrend.

Price may be reversed before rising again Binance/ U.S.dollar(BNBUSD) Technical Indicators: The price is below the MA200 indicating a downtrend.

The wave oscillators above Zero-Line momentum are bullish.

Elliott Wave Analysis TradingLounge 4H Chart, 19 January 23,

Binance/ U.S.dollar(BNBUSD) BNBUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Zigzag

Position: Wave C

Direction Next higher Degrees: wave (4) of Motive Details: Wave (4) usually retraces 32.8% of wave 3.

when ends the price increase again in wave (5) Wave Cancel invalid level: 254

Binance/ U.S.dollar(BNBUSD) Trading Strategy : Binance Coin is still in the structure of Impulse Wave uptrend, lacking another rise in wave 5, at the end of which the price will reverse again.

Binance/ U.S.dollar(BNBUSD) Technical Indicators: The price is above the MA200 MA50, indicating an uptrend.

The wave oscillators have hidden bullish divergence the price trend reversal.