Image Source: Freepik
 

Elliott Wave Analysis TradingLounge Daily Chart,

Binance/ U.S. dollar(BNBUSD)

BNBUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Triangle

Position: Wave ((D))

Direction Next higher Degrees: wave 4

Wave Cancel invalid level: 508

Details: Wave 4 may be complete and the Price increase again in Wave 5

Binance/ U.S. dollar(BNBUSD)Trading Strategy:

The rise of the fifth wave in the Impulse pattern, which is subdivided into five waves. Currently, waves ((1)) and ((2)) are completed, the price is rising in wave ((3)). Therefore, the price There is a chance of continuing to increase above the level of 617.

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

Elliott Wave Analysis TradingLounge H4 Chart,

Binance/ U.S. dollar(BNBUSD)

BNBUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Triangle

Position: Wave ((D))

Direction Next higher Degrees: wave 4

Wave Cancel invalid level: 508

Details: Wave 4 may be complete and the Price increase again in Wave 5.

Technical Analyst : Kittiampon Somboonsod

More By This Author:

Elliott Wave Technical Analysis: Eaton Corporation Plc
Elliott Wave Technical Forecast: Unlocking ASX Trading Success: Rea Group Ltd.
Elliott Wave Technical Analysis: Corn - Tuesday, May 14