BNBUSD Elliott Wave Technical Analysis 17 January 2023
4Hour
Binance/ U.S.dollar(BNBUSD)
BNBUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave 3
Direction Next higher Degrees: wave (1) of Motive
Details: wave 3 is usually the same length as 1.618 or 2.618 x Wave 1
Wave Cancel invalid level: 220
Binance/ U.S.dollar(BNBUSD) Trading Strategy: Binance coin recovered well from the 220 level and could break the MA200 as a signal of weakening of the downtrend. As a result, the trend may change to an uptrend. And there is a tendency toward the price target at the level of 330
Binance/ U.S.dollar(BNBUSD) Technical Indicators: The price is above the MA200 MA50, indicating an uptrend. The wave oscillators above Zero-Line momentum are bullish
Daily
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 III of Motive
Details: Wave III is usually 1.618 x Wave I in length.
Wave Cancel invalid level: 220
Binance/ U.S.dollar(BNBUSD) Trading Strategy: Binance coin recovered well from the 220 level and could break the MA200 as a signal of weakening of the downtrend. As a result, the trend may change to an uptrend. And there is a tendency toward the price target at the level of 568
Binance/ U.S.dollar(BNBUSD) Technical Indicators: The price is above the MA200 MA50, indicating an uptrend. The wave oscillators above Zero-Line momentum are bullish
