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Elliott Wave Analysis TradingLounge Daily Chart, 1 September 2023. 

Binance/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 Zigzag

Wave Cancel invalid level:

Binance/U.S. dollar(BNBUSD) Trading Strategy: A three-wave increase from the level of 203.4 with the appearance of a correction. It is important evidence that the downtrend is not yet over. Therefore, we expect a decline in wave (5) to complete wave ((C)) and the price remains below MA200, making the overall picture still stable. in a downtrend.

Binance/U.S. dollar(BNBUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, MACD and RSI bearish momentum.

Analyst: Kittiampon Somboonsod, CEWA

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

Binance/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 Zigzag

Wave Cancel invalid level: 

Details: Five-wave extension of wave C is likely to be below 203.4

Binance/U.S. dollar(BNBUSD)Trading Strategy: A three-wave increase from the level of 203.4 with the appearance of a correction. It is important evidence that the downtrend is not yet over. Therefore, we expect a decline in wave (5) to complete wave ((C)) and the price remains below MA200, making the overall picture still stable. in a downtrend.

Binance/U.S. dollar(BNBUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, MACD and RSI bearish momentum.

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