Binance Coin (BNB/USD) Elliott Wave Analysis - Daily Chart

BNB/USD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Flat

Position: Wave A

Next Higher Degree Direction: Wave (2)

Wave Cancel Invalid Level: -

Details: Retracement of Wave A expected before a pullback in Wave B.

BNB/USD Trading Strategy:

• Wave (1) appears completed, and the price is now moving into a correction phase in Wave (2). Traders should wait for the correction phase to conclude before rejoining the trend.

BNB/USD Technical Indicators:

• The price is above the 200-day moving average (MA200), suggesting an ongoing uptrend.
• The Wave Oscillator indicates bullish momentum.

Binance Coin (BNB/USD) Elliott Wave Analysis - 4-Hour Chart

BNB/USD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Flat

Position: Wave A

Next Higher Degree Direction: Wave (2)

Wave Cancel Invalid Level: -

Details: Retracement of Wave A expected before a pullback in Wave B.

BNB/USD Trading Strategy:

• Wave (1) appears completed, and the price is now moving into a correction phase in Wave (2). Traders should wait for the correction phase to conclude before rejoining the trend.

BNB/USD Technical Indicators:

• The price is above the 200-day moving average (MA200), suggesting an ongoing uptrend.
• The Wave Oscillator indicates bullish momentum.

Technical Analyst: Kittiampon Somboonsod

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