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Binance coin (BNBUSD) Elliott Wave Technical Analysis 25 August 2022

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Binance coin (BNBUSD)

BNBUSD Elliott Wave Technical Analysis

Function: follow trend

Mode: motive

Structure: Impulse

Position: Wave ((5))

Direction Next higher degrees: Vave | of Motive

Details: The increase in the fifth wave is usually 61.8% of Wave((1)) past Wave ((3)).

Wave Cancel invalid level: 243.5

Binance coin (BNBUSD) Trading Strategy: The price reversal from the MA50 line also
triggered a short-term reversal signal in the MACD, opening an opportunity to enter a
short-term trade on the fifth wave.

Binance coin (BNBUSD) Technical Indicators: MACD Histogram is signaling a Hidden
Bullish divergence.

Binance coin (BNBUSD)

BNBUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Zigzag

Position: Wave B

Direction Next higher degrees: Wave (2) of Motive

Details: A sub-wave of wave(2), where wave(2) typically reverts back to 61.8% of wave(1).
Wave Cancel invalid level: 276.3

Binance coin (BNBUSD) Trading Strategy: Price attempts to break through resistance
at the MA50 and MAZ200. If it fails, there is a chance of a decrease in the second wave
before rising again in the third wave. But even then, it should not fall below 276.5. Wait
for the price to rise above the MA50,200 line again.

Binance coin (BNBUSD) Technical Indicators: MACD is signaling a Bullish


Edited by tradinglounge
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