Image Source: Unsplash

Elliott Wave Analysis TradingLounge Daily Chart,

Binance coin/ U.S. dollar(BNBUSD)

BNBUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Zigzag

position: Wave A

Direction Next higher Degrees: wave (4)

Wave Cancel invalid level: 

Details: It was corrected in Wave 4 before increasing again in Wave 5.

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

It looks like the third wave has ended at the level of 720.6 and the price is entering a correction period in the fourth wave. This was a short-term earthquake before increasing again in the fifth wave. Therefore, the overall picture is still in an upward trend. Look for opportunities from the completion of the correction to rejoin the trend.

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

Elliott Wave Analysis TradingLounge H4 Chart,

Binance coin/ U.S. dollar(BNBUSD)

BNBUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Zigzag

position: Wave A

Direction Next higher Degrees: wave (4)

Wave Cancel invalid level: 

Details: It was corrected in Wave 4 before increasing again in Wave 5.

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

It looks like the third wave has ended at the level of 720.6 and the price is entering a correction period in the fourth wave. This was a short-term earthquake before increasing again in the fifth wave. Therefore, the overall picture is still in an upward trend. Look for opportunities from the completion of the correction to rejoin the trend.

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

Technical Analyst: Kittiampon Somboonsod

More By This Author:

Elliott Wave Technical Analysis: New Zealand Dollar/U.S. Dollar - Monday, June 10
Elliott Wave Technical Analysis: Exxon Mobil Inc. - Monday, June 10
Unlocking ASX Trading Success: ASX Limited - Monday, June 10