Elliott Wave Analysis TradingLounge Daily Chart,

Binance/ U.S. dollar(BNBUSD)

BNBUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Double Corrective

position: Wave ((Y))

Direction Next higher Degrees: wave 2

Wave Cancel invalid level: 

Details: The decline of wave Y is likely to end and the price is re-entering the uptrend.

Binance/ U.S. dollar(BNBUSD)Trading Strategy:

It looks like the wave (2) correction is complete and the price is still likely to move up. Look for an opportunity to join the wave (3) uptrend.

Binance/ U.S. dollar(BNBUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, The Wave Oscillator is a Bearish Momentum.

(Click on image to enlarge)

Elliott Wave Analysis TradingLounge H4 Chart,

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 (2)

Wave Cancel invalid level: 

Details: Wave (2) is likely to end and the price is re-entering the uptrend.

Binance/ U.S. dollar(BNBUSD)Trading Strategy:

It looks like the wave (2) correction is complete and the price is still likely to move up. Look for an opportunity to join the wave (3) uptrend.

Binance/ U.S. dollar(BNBUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, The Wave Oscillator is a Bearish Momentum.

(Click on image to enlarge)

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