Elliott Wave Analysis TradingLounge Daily Chart, 1 June 23,  

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Binance Coin/U.S. Dollar (BNB-X)

BNBUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave 5

Direction Next higher Degrees: wave (C) of Motive

Details: Wave 5 is equal to Wave 1 at the 298.3 level.

Wave Cancel invalid level: 220.0

Binance Coin/U.S. Dollar (BNBUSD)Trading Strategy: There is still a risk that the price will fall further because the sub-wave within the wave (C) is incomplete. This corresponds to the price being below the MA200 line, so wait for the wave. (C) Done to join the trend again.

Binance Coin/U.S. Dollar (BNBUSD)Technical Indicators: The price is below the MA200 indicating a downtrend MACD and RSI that are bearish in momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

Elliott Wave Analysis TradingLounge 4H Chart, June 1, 2023.

Binance Coin/U.S. Dollar (BNBUSD)

BNBUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave 5

Direction Next higher Degrees: wave (C) of Motive

Details: Wave 5 is equal to Wave 1 at the 298.3 level.

Wave Cancel invalid level: 220.0

Binance Coin/U.S. Dollar (BNBUSD)Trading Strategy: There is still a risk that the price will fall further because the sub-wave within the wave (C) is incomplete. This corresponds to the price being below the MA200 line, so wait for the wave. (C) Done to join the trend again.

Binance Coin/U.S. Dollar (BNBUSD)Technical Indicators: The price is below the MA200 indicating a downtrend MACD and RSI that are bearish in momentum.

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