Binance Coin may stabilize soon
|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.
Get Full Access To Our Premium Elliott Wave Analysis For 14 Days. Click here.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.