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Elliott Wave Analysis TradingLounge Daily Chart, 5 April 2023.  

Binance /U.S. Dollar (BNBUSD)

BNBUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave III

Direction Next higher Degrees: wave (I) of Motive

Details: Wave 3 is equal to 1.618 multiplied Length of wave 1 at 568.8

Wave Cancel invalid level: 220

Binance /U.S. Dollar (BNBUSD) Trading Strategy: BNB is recovering well. And we expect wave ((2)) to end at the level of 265.0. Five rising waves from this point and the price can break the MA200 line will support this idea. The price is likely to trade above the 568.8 level.

Binance /U.S. Dollar (BNBUSD) Technical Indicators: The price is above the MA200 indicating an uptrend. The wave oscillators above Zero-Line momentum are bullish.

Analyst: Kittiampon Somboonsod, CEWA

Elliott Wave Analysis TradingLounge 4H Chart, 5 April 2023.

Binance /U.S. Dollar(BNBUSD)

BNBUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave III

Direction Next higher Degrees: wave (I) of Motive

Details: Wave 3 is equal to 1.618 multiplied Length of wave 1 at 446.4

Wave Cancel invalid level: 265.0

Binance /U.S. Dollar (BNBUSD) Trading Strategy: BNB is recovering well. And we expect wave ((2)) to end at the level of 265.0. Five rising waves from this point and the price can break the MA200 line will support this idea. The price is likely to trade above the 568.8 level.

Binance /U.S. Dollar (BNBUSD) Technical Indicators: The price is below the MA200 indicating a downtrend. The wave oscillators Below Zero-Line momentum are bearish.

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