Binance Coin retraces in waves ((2)) 25 January 2023
Binance/U.S.dollar(BNBUSD) Daily Chart
BNBUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave III
Direction Next higher Degrees: wave III of Motive
Details: Wave III is usually 1.618 x Wave I in length.
Wave Cancel invalid level: 220
Binance/U.S. dollar (BNBUSD)Trading Strategy: Binance Coin It recovered well from the 220 level and managed to break the MA200, signaling a decline in the downtrend. As a result, the trend may change to an uptrend. And there is a tendency towards the price target at level 568, but even so, this is only the beginning of an uptrend. Price may reverse before rising again
Binance/U.S.dollar(BNBUSD) Technical Indicators: The price is above the MA200, indicating an uptrend, wave oscillators above the zero line. momentum increases
Binance/U.S.dollar(BNBUSD) 4Hour Chart
BNBUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave (5)
Direction Next higher Degrees: wave ((1)) of Motive
Details: wave(5) may end and the price throwback in wave ((2)) larger degree
Wave Cancel invalid level: 254.8
Binance/U.S.dollar(BNBUSD) Trading Strategy: Binance Coin Wave (5) likely to end after the price is close to the target price Until causing a severe reversal The price has crossed the EW Channel and bearish divergence has also made us expect a reversal of wave ((2) on a larger scale, so wait for wave (2) to complete to consolidate the trend again.
Binance/U.S.dollar(BNBUSD)Technical Indicators: The price is above the MA200 line, signaling an uptrend. The wave oscillators have a BEARISH Divergence signal. Price tends to reverse.
