BNB/USD Elliott Wave technical analysis [Video]

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 – 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.

Trading strategies

• For swing traders:

  • Look to buy during sub-wave 4 pullback inside wave (3).

  • Target Range: $1,306.24, based on post-triangle thrust projection.

•  Risk management:

  • Place Stop Loss around $605–$625 to handle volatility.

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

• For swing traders:

  • Use the $640–$650 area as a base to accumulate during wave (3).

  • Profit Target: $750–$785 per Fibonacci projections.

•  Risk management:

  • Set Stop Loss below $620 for risk control.

TradingLounge analyst: Kittiampon Somboonsod, CEWA.

BNB/USD Elliott Wave technical analysis [Video]