Jump to content

Binnance /U.S.dollar(BNBUSD) Elliott Wave Technical Analysis 9 May 23


Recommended Posts

Elliott Wave Analysis TradingLounge Daily Chart, 9 May 23,  

Binnance /U.S.dollar(BNBUSD)

BNBUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave III

Direction Next higher Degrees: wave (I) of Motive

Details: Wave 3 is equal to 1.618 multiplied Length of wave 1 at 568.8

Wave Cancel invalid level: 220

Binnance /U.S.dollar(BNBUSD)Trading Strategy: The second wave retracement tends to be .618 of the first wavelength. Therefore, there is important support around 270, waiting for the correction to complete to consolidate the trend.

Binnance /U.S.dollar(BNBUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend MACD and RSI are Bearish momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

 

BNBDay.thumb.png.2d69d9eb1b441a04a8ff707f4d70ab69.png

 

Elliott Wave Analysis TradingLounge 4H Chart, 9 May 23,  

Binnance /U.S.dollar(BNBUSD)

BNBUSD Elliott Wave Technical Analysis

Function: Reactionary(Counter Trend)

Mode: Corrective

Structure: Double Combined

Position: Wave Y

Direction Next higher Degrees: wave (2) of Motive

Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1))

Wave Cancel invalid level: 265.0

Binnance /U.S.dollar(BNBUSD)Trading Strategy: There is still a risk of a correction of wave (2), which corresponds to prices below the MA200 line indicating a downtrend. before rising again Wait for the correction to complete.

Binnance /U.S.dollar(BNBUSD)Technical Indicators: The price is below the MA200 indicating a downtrend MACD and RSI are Bearish momentum.

BNBH4.thumb.png.97b507b44f13dd614f6e8044d8d8ee6b.png

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • The BLUM project has recently gained attention in the cryptocurrency community due to several developments such as  Introduction of a mining game on the TON ecosystem, allowing users to earn $BLUM tokens.  Announcement of new strategic partnerships Upcoming features including Tribes and Memepad functionalities.  Active community engagement through events and rewards 5. Recognition from notable figures in the crypto space Key upcoming events: Token Generation Event (TGE) for the BLUM mining game scheduled for September 20, 2024 Coinciding airdrop of BLUM tokens to the community The project plans to provide liquidity on centralized exchanges such as Bitget and Binance, as well as decentralized exchanges like Uniswap, Curve, and PancakeSwap. These developments have contributed to increased discussions about BLUM on social media platforms, particularly Twitter. As the crypto landscape evolves rapidly, interested individuals are encouraged to stay informed about BLUM's progress through official channels and related TON communities like r/TONDiscussion.  As with any cryptocurrency project, potential participants should conduct thorough research and consider their own risk tolerance before engaging.
    • Counter Fire is poised to redefine the gaming industry with its innovative blend of competitive gameplay and blockchain technology. The game offers multiple modes, including team-based matches of quads, duos, and solos along with solo missions, with deep customization options and dynamic battle scenarios. While the core gameplay of Counter Fire is similar to PUBG, a battle-royal where the last-man or last-team standing wins in a survival gameplay, users earn while playing Counter Fires. The project has been buzzing the ecosystem as the airdrop claim went live today so users can claim their $CEC and await listing on 9th Sept. While gamers continue to claim their tokens, some analysts have start speculating that the project will redefine the gaming landscape citing the project partnership with likes of YoubiCapital, HASHKEY, KERNEL ventures and many more and the fact that the project raised over $5 million as the base for their argument. The project partnership with Bitget could also be a reason it continues to gain such exposure as players can only claim their token to the exchange. Though, as players claim their token to the exchange, they could benefit some reward from the 1 million $CEC reward pool. I still think many exchanges should list the token so gamers can have many choices.
    • Hi @feirb1, Thank you for your post. Please note that we offer T-Bills for trading on leveraged accounts. By trading these, you will be speculating on the price movements. This means that, when trading, you´ll never take ownership of an actual t-bill. Instead, you´ll take a position on the market either rising in value or falling. Thanks, KoketsoIG
×
×
  • Create New...
us