Binance Coin/U.S.dollar(BNBUSD) Elliott Wave Technical Analysis 23 May 23

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Elliott Wave Analysis TradingLounge Daily Chart, 23 May 23,  

Binance Coin/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: It is possible that wave ((2)) may have ended at the level of 301.2. five wave rise And breaking the level 328.5 will support this idea.

Wave Cancel invalid level: 220

Binance Coin/U.S.dollar(BNBUSD)Trading Strategy: It is a good sign for Binance coin. Based on the rebound at the MA200, we assume that wave ((2)) may end at the 301.2 level. Five surges and a break from the 328.5 level will support this idea.

Binance Coin/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

 

 

 

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

Binance Coin/U.S.dollar(BNBUSD)

BNBUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave 2

Direction Next higher Degrees: wave (1) of Motive

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

Wave Cancel invalid level: 265.0

Binance Coin/U.S.dollar(BNBUSD)Trading Strategy: we assume that wave ((2)) may end at the 301.2 level. Five surges and a break from the 328.5 level will support this idea.But even so, you will have to wait for the price to cross the MA200 line first.

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