BNBUSD Elliott Wave Technical Analysis 25 January 2023
4 Hour
Elliott Wave Analysis TradingLounge 4H Chart, 25 January 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 ((1)) of Motive
Details: wave(5) may end and the price throwback in wave ((2)) larger degree
Wave Cancel invalid level: 254.8
Binance/U.S.dollar(BNBUSD) Trading Strategy: Binance Coin Wave (5) is likely to end. After the price is near the target price, it causes severe reverse. Causing the price to pass through the EW. Channel and also have the BEARISH Divergence signal, allowing us to expect the reverse of the wave ((2) at a large level, so should wait for the wave ((2) to complete to include the trend time
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 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 Bullish momentum
