Binance Elliott Wave technical analysis [Video]

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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.

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

Binance/ US Dollar (BNB/USD) Trading Strategy: The correction in wave ((2)) seems to be over so we focus on the five-wave rally of wave 3 and the price is likely to test the 913 level. The price action remains in an uptrend, and we are looking for a re-entry into the trend.

Binance/ US Dollar (BNB/USD) Technical Indicators: The price is above the MA200 indicating an uptrend, The Wave Oscillator is a Bullish Momentum.

BNB/USD Elliott Wave technical analysis

Function: Follow Trend.

Mode: Motive.

Structure: Impulse.

Position: Wave (3).

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

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

Binance/ U.S. dollar (BNB/USD) Trading Strategy: The correction in wave ((2)) seems to be over so we focus on the five-wave rally of wave 3 and the price is likely to test the 913 level. The price action remains in an uptrend, and we are looking for a re-entry into the trend.

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

Binance Elliott Wave technical analysis [Video]