Elliott Wave Analysis TradingLounge Daily Chart, 15 May 23,  

Binance Coin/U.S.dollar(BNBUSD)

BNBUSD Elliott Wave Technical Analysis

Function: Reactionary(Counter Trend)

Mode: Corrective

Structure: Double Combined

Position: Wave Y

Direction Next higher Degrees: wave (2) of Motive

Details: It is possible that wave ((2)) may have ended at the level of 301.2. five wave rise And breaking the level 328.5 will support this idea.

Wave Cancel invalid level: 220

Binance Coin/U.S. dollar (BNBUSD)Trading Strategy: It is a good sign for Binance coin. Based on the rebound at the MA200, we assume that wave ((2)) may end at the 301.2 level. Five surges and a break from the 328.5 level will support this idea.

Binance Coin/U.S.dollar(BNBUSD)Technical Indicators: The price is above the MA200, indicating an uptrend MACD and RSI are Bearish momentum.

(Click on image to enlarge)

Elliott Wave Analysis TradingLounge 4H Chart, 15 May 23,  

Binance Coin/U.S.dollar(BNBUSD)

BNBUSD Elliott Wave Technical Analysis

Function: Reactionary(Counter Trend)

Mode: Corrective

Structure: Double Combined

Position: Wave Y

Direction Next higher Degrees: wave (2) of Motive

Details: It is possible that wave ((2)) may have ended at the level of 301.2 five wave rise And breaking the level 328.5 will support this idea.

Wave Cancel invalid level: 265.0

Binance Coin/U.S.dollar(BNBUSD)Trading Strategy: we assume that wave ((2)) may end at the 301.2 level. Five surges and a break from the 328.5 level will support this idea.But even so, you will have to wait for the price to cross the MA200 line first.

Binance Coin/U.S.dollar(BNBUSD)Technical Indicators: The price is below the MA200 indicating a downtrend MACD and RSI are bullish momentum.

(Click on image to enlarge)

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