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Elliott Wave Analysis TradingLounge Daily Chart, 25 January 2023.

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: 220

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 toward 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 Bullish momentum.

Analyst: Kittiampon Somboonsod

Elliott Wave Analysis TradingLounge 4H Chart, 25 January 2023.

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

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave (5)

Direction Next higher Degrees: wave ((1)) of Motive Details: wave(5) may end and the price throwback in wave ((2)) larger degree Wave Cancel invalid level: 254.8

Binance/U.S. Dollar (BNBUSD) Trading Strategy: Binance Coin Wave (5) is likely to end. After the price is near the target price, it causes a severe reverse. Causing the price to pass through the EW. Channel and also have the BEARISH Divergence signal, allowing us to expect the reverse of the wave ((2) at a large level, so should wait for the wave ((2) to complete to include the trend time.

Binance/U.S. Dollar (BNBUSD)Technical Indicators: The price is above the MA200, indicating an uptrend. The wave oscillators have BEARISH Divergence signal the price may reversal.

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