Photo by Kanchanara on Unsplash
 

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 recovered well from the 220 level and could break the MA200 as a signal of weakening of the downtrend. As a result, the trend may change to an uptrend. And there is a tendency toward the price target at the level of 568.

Binance/ U.S. Dollar (BNBUSD) Technical Indicators: The price is above the MA200 MA50, indicating an uptrend. The wave oscillators above Zero-Line momentum are bullish.

Analyst: Kittiampon Somboonsod

Elliott Wave Analysis TradingLounge 4H Chart, 17 January 23,

Binance/ U.S. Dollar (BNBUSD)

BNBUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave 3

Direction Next higher Degrees: wave (1) of Motive

Details: wave 3 is usually the same length as 1.618 or 2.618 x Wave 1

Wave Cancel invalid level: 220

Binance/ U.S. Dollar (BNBUSD) Trading Strategy: Binance coin recovered well from the 220 level and could break the MA200 as a signal of weakening of the downtrend. As a result, the trend may change to an uptrend. And there is a tendency toward the price target at the level of 330

Binance/ U.S. Dollar (BNBUSD) Technical Indicators: The price is above the MA200 MA50, indicating an uptrend. The wave oscillators above Zero-Line momentum are bullish.

More By This Author:

Elliott Wave Technical Analysis: Commodity Markets - Monday, Jan. 16
Elliott Wave Technical Analysis: United Parcel Service Inc. - Monday, Jan. 16
Elliott Wave Technical Analysis: Monero / U.S. Dollar - Monday, Jan. 16