Binance/ U.S. Dollar (BNBUSD) Elliott Wave Analysis – TradingLounge Daily Chart
BNBUSD Elliott Wave Technical Review
Market Function: Counter Trend
Wave Type: Corrective
Pattern: Triangle
Current Wave: Wave E
Higher Degree Direction: Wave IV in an Impulse
Invalidation Level:
Binance/ U.S. Dollar (BNBUSD) Trading Strategy:
According to Elliott Wave Theory, BNBUSD is currently positioned in Wave IV, preparing for the potential emergence of Wave V, which is projected to be a significant bullish trend. The Post-Triangle Thrust target for this breakout scenario is calculated at $1,306.24, derived from the measured triangle height. A bullish confirmation is expected upon a breakout above the $734.99 resistance level, marking a potential trend continuation.
Trading Strategies
Approach
Method
✅ For Swing Traders (Short-Term)
A decisive price move above the $734.99 resistance level, confirmed by increased trading volume, may indicate the start of Wave V.
Risk Control
Invalidation Level: $490.00 (Price drop below this threshold invalidates the current wave count)
Binance/ U.S. Dollar (BNBUSD) Elliott Wave Analysis – TradingLounge H4 Chart
BNBUSD Elliott Wave Technical Review
Market Function: Counter Trend
Wave Type: Corrective
Pattern: Triangle
Current Wave: Wave E
Higher Degree Direction: Wave IV in an Impulse
Invalidation Level:
Binance/ U.S. Dollar (BNBUSD) Trading Strategy:
BNBUSD is holding within Wave IV, with sub-wave 1 already completed. The asset is now in Wave 2, a correction phase aligning with key Fibonacci retracement levels between 0.5 and 0.618 — specifically in the range of $572.87 to $557.36. A bullish reaction from this zone could trigger Wave 3, with resistance expected near $705.
Trading Strategies
Approach
Method
✅ For Swing Traders (Short-Term)
A breakout beyond $734.99, supported by high volume, could act as a catalyst for the initiation of Wave V.
Risk Control
Invalidation Level: $490.00 (Break below this point invalidates current Elliott Wave structure)
Technical Analyst: Kittiampon Somboonsod
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