Elliott Wave Technical Analysis - Binance Coin
Image Source: Pixabay
BNBUSD Elliott Wave Technical Analysis
Function: Counter trend
Mode: Corrective
Structure: Double Corrective
Position: Wave (Y)
Direction Next higher degrees: Wave ((4)) of Motive Details: The fourth wave may have finished and the price is rising on the fifth wave.
Wave Cancel invalid level: 258.4
Binance Coin(BNBUSD) Trading Strategy: Bul ish's Efforts to Drive the Market Upward It tends to trade above 336.5 but not below 258.3, which could be an opportunity to open a long position.
Binance Coin(BNBUSD) Technical Indicators: MACD has a Hidden Bul ish divergence, and the price has an opportunity reversal.
Analyst: Kittiampon Somboonsod
Elliott Wave Analysis TradingLounge 4H Chart, 15 September 2022, Binance Coin(BNBUSD)
BNBUSD Elliott Wave Technical Analysis
Function: Fol ow trend
Mode: Motive
Structure: Impulse
Position: Wave (2)
Direction Next higher degrees: Wave ((5)) of Motive Details: The sub-wave of the fifth wave The price tends to trade above the 336.5 level, but not below 258.4.
Wave Cancel invalid level: 258.4
Binance Coin(BNBUSD) Trading Strategy: Bul ish's Efforts to Drive the Market Upward It tends to trade above 336.5 but not below 258.3, which could be an opportunity to open a long position.
Binance Coin(BNBUSD) Technical Indicators: MACD has a Bul ish divergence, MACD Histogram has a Hidden Bul ish divergence the price has an opportunity reversal.
More By This Author:
Elliott Wave Technical Analysis, Sept. 14: AAVE Token
Elliott Wave Technical Analysis, Sept.14: Pepsico Inc.
Elliott Wave Trading Strategies: DAX 40, FTSE 100, EUROSTOXX 50, Dollar, GBPUSD, EURUSD
Disclosure: As with any trading or investment opportunity there is a risk of making losses especially in day trading or investments that Trading Lounge expresses opinions on. Note: Historical ...
more