Another rise of wave (5) after the end of wave (4) with a price target of 372,1 level, which is 0,618 of the length of wave (1) to wave (3). Therefore, overall, Binance is still in an uptrend and price. It can still be increased.

Binance Coin / U.S. dollar (BNBUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillators a bullish Momentum.

Elliott Wave Analysis TradingLounge 4Hr Chart, 13 February 24,

Binance Coin / U.S. dollar(BNBUSD)

BNB/USD Elliott Wave technical analysis

Function: Counter Trend.

Mode: Corrective.

Structure: Zigzag.

Position: Wave 4.

Direction next higher degrees: Wave ((1)) of Impulse

Wave Cancel invalid level:

Details: The corrective of Wave 4 maybe is complete and the price increase again in Wave 5

Binance Coin / U.S. dollar(BNBUSD) trading strategy:

Another rise of wave (5) after the end of wave (4) with a price target of 372.1 level, which is 0.618 of the length of wave (1) to wave (3). Therefore, overall, Binance is still in an uptrend and price. It can still be increased.

Binance Coin / U.S. dollar(BNBUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillators a bullish Momentum.

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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BNB/USD Elliott Wave technical analysis [Video]