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Binance crypto price news today Elliott Wave technical analysis [Video]

Binance crypto price news today Elliott Wave technical analysis [Video]
Peter MathersPeter MathersTradingLounge

Elliott Wave Analysis TradingLounge.

Binance/ U.S. dollar(BNBUSD).

BNB/USD Elliott Wave technical analysis

Function: Counter Trend.

Mode: Corrective.

Structure: Double Corrective.

Position: Wave ((Y)).

Direction next higher degrees: Wave 2.

Wave cancel invalid level:

Details: The decline of wave Y is likely to end and the price is re-entering the uptrend.

Binance/ U.S. dollar(BNBUSD)Trading Strategy:

The correction in wave 2 seems to be over so we focus on the five-wave rally of wave 2 and The price action remains in an uptrend, and we are looking for a re-entry into the trend.

Binance/ U.S. dollar(BNBUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, The Wave Oscillator is a Bullish Momentum.

Chart

Binance/ U.S. dollar(BNBUSD)

BNB/USD Elliott Wave technical analysis

Function: Follow Trend.

Mode: Motive.

Structure: Impulse.

Position: Wave (3).

Direction next higher degrees: Wave ((3)) of Impulse.

Wave cancel invalid level:

Details: Wave 3 is likely to be 161.8% of wave 1.

Binance/ U.S. dollar(BNBUSD)Trading Strategy:

The correction in wave 2I seems to be over so we focus on the five-wave rally of wave 3 and The price action remains in an uptrend, and we are looking for a re-entry into the trend.

Binance/ U.S. dollar(BNBUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, The Wave Oscillator is a Bullish Momentum.

Chart

Technical analyst: Kittiampon Somboonsod.

BNB/USD Elliott Wave technical analysis [Video]

Author

Peter Mathers

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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