Binance Coin may stabilize soon

Gregor Horvat Wavetraders

Binance Coin with ticker BNBUSD can be now potentially finishing final subwave E of a larger bullish triangle pattern in wave (4), so while the price is above 183 lows, still watch out for a rally, but keep in mind that bullish confirmation is only above upper triangle line and 400 region. If BNBUSD suddenly slips below lower triangle line, then wave (4) correction can be alternatively also deeper one with next support at 150 – 100 area.

The main reason for bullish BNBUSD can be BNBBTC chart, which we see it finishing an impulse into first higher degree leg A, which can face wave B recovery soon, ideally from around 0.0050 temporary support area.

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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