BNBUSD Elliott Wave Analysis - TradingLounge Daily Chart
Binance/ U.S. Dollar (BNBUSD) Daily Chart Analysis
BNBUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Double Corrective
Position: Wave ((Y))
Next Higher Degree Direction: Wave 2
Wave Cancel Invalid Level: N/A
Details: The decline in wave Y appears to be nearing completion, signaling a potential re-entry into an uptrend as the price is positioned to resume upward momentum.
Binance/ U.S. Dollar (BNBUSD) Trading Strategy
The correction within wave 2 seems to have concluded, shifting focus toward the anticipated five-wave rally in wave 2. The current price action remains aligned with an uptrend, suggesting favorable conditions for a trend re-entry.
Binance/ U.S. Dollar (BNBUSD) Technical Indicators
BNBUSD Elliott Wave Analysis - 4-Hour Chart
BNBUSD Elliott Wave Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave (3)
Next Higher Degree Direction: Wave ((3)) of Impulse
Wave Cancel Invalid Level: N/A
Details: Wave 3 is projected to reach approximately 161.8% of wave 1, supporting a continuation of the impulse wave structure.
Binance/ U.S. Dollar (BNBUSD) Trading Strategy
With the wave 2 correction likely complete, focus remains on the development of the five-wave rally in wave 3. Current price action continues to support an uptrend, making a re-entry into the trend a favorable strategy.
Binance/ U.S. Dollar (BNBUSD) Technical Indicators
Technical Analyst: Kittiampon Somboonsod
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