BNBUSD Elliott Wave Technical Analysis 18 January 2023
4 Hour
Binance/ U.S.dollar(BNBUSD)
BNBUSD Elliott Wave Technical Analysis
Function: Counter trend
Mode: Corrective
Structure: Zigzag
Position: Wave C
Direction Next higher Degrees: wave (4) of Motive
Details: Wave (4) usually retraces 32.8% of wave 3. when ends the price increase again in wave (5)
Wave Cancel invalid level: 254
Binance/ U.S.dollar(BNBUSD) Trading Strategy: Binance Coin is still in the structure of Impulse Wave uptrend, lacking another rise in wave 5, at the end of which the price will reverse again.
Binance/ U.S.dollar(BNBUSD) Technical Indicators: The price is above the MA200 MA50, indicating an uptrend. The wave oscillators have hidden bullish divergence the price trend reversal
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: 183.4
Binance/ U.S.dollar(BNBUSD) Trading Strategy: Binance coin has recovered well from the 220 level and managed to break the MA200, signaling the weakening of the downtrend. As a result, the trend may change to an uptrend. And there is a trend towards the price target at level 568, but even so, this is only the beginning of an uptrend. Price may be reversed. before rising again
Binance/ U.S.dollar(BNBUSD) Technical Indicators: The price is below the MA200 indicating a downtrend. The wave oscillators above Zero-Line momentum are bullish
