Cryptocurrencies

BNBUSD Elliott Wave Technical Analysis March 17 2023

4Hour

Binance Coin/U.S.dollar(BNBUSD)
BNBUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave (3)
Direction Next higher Degrees: wave ((3)) of Motive
Details:As we look for confirmation of the end of wave (2), the price rises above 319. It is possible that wave (3) is in progress. and may lead to 1.618 x wave (1) at level 388.
Wave Cancel invalid level: 265

Binance Coin/U.S.dollar(BNBUSD)Trading Strategy: Binance Coin has recovered from the 265 level above the MA200 line, it is possible that wave ((2)) has ended. And the five-wave increment from this point confirms this idea. This leads us to forecast an increase in wave((3)) at the level of 1.618 x wave((1)) at 388.1

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

Daily

Binance Coin/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 Coin/U.S.dollar(BNBUSD)Trading Strategy: Binance Coin has recovered from the 265 level above the MA200 line, it is possible that wave ((2)) has ended. And the five-wave increment from this point confirms this idea. This leads us to forecast an increase in wave((3)) at the level of 1.618 x wave((1)) at 568.8.

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