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.
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]
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
Recommended Content
Editors’ Picks
Ripple update: XRP shows resilience in recent crypto market sell-off
Ripple's XRP is up 6% on Tuesday following a series of on-chain metrics, which reveals investors in the remittance-based token held onto their assets despite the wider crypto market sell-off last week.
Floki DAO floats liquidity provisioning for a Floki ETP in Europe
Floki DAO — the organization that manages the memecoin Floki — has proposed allocating a portion of its treasury to an asset manager in a bid to launch an exchange-traded product (ETP) in Europe, allowing institutional investors to gain exposure to the memecoin.
Six Bitcoin mutual funds to debut in Israel next week: Report
Six mutual funds tracking the price of bitcoin (BTC) will debut in Israel next week after the Israel Securities Authority (ISA) granted permission for the products, Calcalist reported on Wednesday.
Crypto Today: BTC hits new Trump-era low as Chainlink, HBAR and AAVE lead market recovery
The global cryptocurrency market cap shrank by $500 billion after the Federal Reserve's hawkish statements on December 17. Amid the market crash, Bitcoin price declined 7.2% last week, recording its first weekly timeframe loss since Donald Trump’s re-election.
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy
Bitcoin price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot ETFs in January and the reduced supply following the fourth halving event in April.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.