BNB/USD Elliott Wave technical analysis [Video]
|BNB/USD Elliott Wave technical analysis
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Function: Trend Following.
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Mode: Motive.
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Structure: Impulse.
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Position: Wave 3.
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Next Higher Degree Direction: Wave IV of Impulse.
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Wave Invalidation Level: Not specified.
Trading strategy – BNB/USD (Binance/U.S. Dollar)
BNB shows momentum growth after breaking out from a Triangle IV pattern. The breakout above the triangle’s resistance line (E–D–C–B–A) signals a start of Wave (3), usually the strongest part of a trend.
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For swing traders:
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Look to buy during sub-wave 4 pullback inside wave (3).
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Target Range: $1,306.24, based on post-triangle thrust projection.
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Risk management:
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Place Stop Loss around $605–$625 to handle volatility.
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BNB/USD Elliott Wave technical analysis
-
Function: Trend Following.
-
Mode: Motive.
-
Structure: Impulse.
-
Position: Wave 3.
-
Next Higher Degree Direction: Wave IV of Impulse.
-
Wave Invalidation Level: Not specified.
Trading strategy – BNBUSD (Binance/US Dollar)
BNB completed correction wave (2) near Fibonacci 0.5–0.618 ($636–$624). Following this, price surged in wave (3), confirming with a strong breakout above the upper channel.
Trading strategies
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For swing traders:
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Use the $640–$650 area as a base to accumulate during wave (3).
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Profit Target: $750–$785 per Fibonacci projections.
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Risk management:
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Set Stop Loss below $620 for risk control.
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TradingLounge analyst: Kittiampon Somboonsod, CEWA.
BNB/USD Elliott Wave technical analysis [Video]
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