Elliott Wave Analysis – TradingLounge Daily Chart,,
Binance/ U.S. Dollar (BNBUSD)
BNBUSD Elliott Wave Technical Review

• Market Function: Counter Trend
• Wave Type: Corrective
• Pattern: Triangle
• Current Wave: Wave E
• Higher Degree Direction: Wave IV in an Impulse
• Invalidation Level:

Binance/ U.S. Dollar (BNBUSD) Trading Strategy:
As per the Elliott Wave framework, BNB is in Wave IV and is preparing to develop Wave V, anticipated as the next strong upward movement. The Post-Triangle Thrust projection estimates a potential price target of $1,306.24, calculated based on the triangle’s height. A confirmed uptrend will be more reliable once the price breaks above the bullish key level of $734.99.

Trading Strategies

• Approach

  • Method

    • For Swing Traders (Short-Term)

      • A strong breakout above the $734.99 resistance, accompanied by high volume, could mark the beginning of Wave V.

  • Risk Control

    • Invalidation Level: $490.00 (Falling below this invalidates the current wave scenario)

Elliott Wave Analysis – TradingLounge H4 Chart,
Binance/ U.S. Dollar (BNBUSD)
BNBUSD Elliott Wave Technical Review

• Market Function: Counter Trend
• Wave Type: Corrective
• Pattern: Triangle
• Current Wave: Wave E
• Higher Degree Direction: Wave IV in an Impulse

• Invalidation Level:

Binance/ U.S. Dollar (BNBUSD) Trading Strategy:
BNB remains within Wave IV and has already completed sub-wave 1. Currently, the price is in a corrective phase identified as Wave 2, which aligns with a major support zone at the Fibonacci levels of 0.5 to 0.618, specifically between $572.87 and $557.36. A rebound from this area may signal the emergence of Wave 3, aiming for resistance around $705.

Trading Strategies

• Approach

  • Method

    • For Swing Traders (Short-Term)

      • A price breakout above $734.99, confirmed by strong volume, could initiate Wave V.

  • Risk Control

    • Invalidation Level: $490.00 (Wave structure invalidated if price drops below this)

Analyst: Kittiampon Somboonsod, CEWA

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