BNBUSD Elliott Wave Analysis – TradingLounge Daily Chart

Binance / U.S. Dollar (BNBUSD) Pair Chart Analysis

BNBUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Double Corrective

Position: Wave ((Y))

Direction (Next Higher Degree): Wave 2

Wave Cancel Invalid Level: N/A

Details: The decline of Wave Y appears to be nearing its end, indicating that the price may re-enter its upward trend.

BNBUSD Trading Strategy – Binance / U.S. Dollar

The Wave 2 correction seems complete, with the price still showing the potential to move higher. Traders should look for opportunities to join the Wave 2 uptrend.

BNBUSD Technical Indicators – Binance / U.S. Dollar (BNBUSD)

• The price is currently trading above the MA200, signaling an uptrend.

• The Wave Oscillator shows Bearish Momentum.

BNBUSD Elliott Wave Analysis – TradingLounge H4 Chart

Binance / U.S. Dollar (BNBUSD) Chart Analysis

BNBUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Zigzag

Position: Wave C

Direction (Next Higher Degree): Wave (2)

Wave Cancel Invalid Level: N/A

Details: Wave (2) appears to be finishing, suggesting the price may re-enter its uptrend soon.

BNBUSD Trading Strategy – Binance / U.S. Dollar

Wave 2 correction looks complete, and the price shows potential to move higher. Traders should look for opportunities to enter the Wave 3 uptrend.

BNBUSD Technical Indicators – Binance / U.S. Dollar

• The price is trading above the MA200, indicating an uptrend.

• The Wave Oscillator shows Bearish Momentum.

Technical Analyst:  Kittiampon Somboonsod

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

See Previous: Dogecoin / U.S. Dollar (DOGEUSD) Elliott Wave Technical Analysis

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