BNBUSD Elliott Wave Technical Analysis February 05 2023
4Hour
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
Wave Cancel invalid level: 220.0
Details: The rise of wave (5) at its end, the price reverses again in wave ((2)) with one level larger.
Binance/U.S. dollar (BNBUSD) Trading Strategy: Binance Coin Wave (5) is likely to end. after the price approaches the target price beware of reversal If the price breaks EW. The channel allows us to expect a reversal of wave ((2) one level larger). Therefore, one should wait for wave ((2) to complete to consolidate the trend time.
Binance/U.S. dollar (BNBUSD) Technical Indicators: The price is above the MA200, indicating an uptrend. The wave oscillators above Zero-Line Bullish momentu
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 above the MA200 indicating an uptrend. The wave oscillators above Zero-Line momentum are bullish
