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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 2 uptrend.

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

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.

Technical Analyst: Kittiampon Somboonsod

Source: Tradinglounge.com

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