BNB possible EW scenario. 2nd EW may be done and 3rd incoming
Charting made by application of Fib Retracement on a lot of scales, while overlaying them.
NOTICE the candle time (3H). This is a VERY LONG play (days - maybe even a week), mostly done because I think I see a good EW pattern there.
If you look at my previous charts you can see that BNB really loves Elliot Waves, that's why I see this as plausible.
Legend:
1)
In white, you can see that the current EW that seems to be forming.
If 12$ will be the last High Point before a nice corrections (and it seems to be) then a correction to 10.7$ (maybe 11$)
may be on it's way. I charted this correction with an ABC based on Fib Retracement, but It might go ABCDE with 5 points. Although BNB seems to make more ABC's than ABCDE's.
2)
In yellow I made another EW pattern while ignoring that big pump because of the Binance Chain announcement.
Since that was out of the blue, with no way of foreseeing it I treat it as an anomaly caused by hype.
If this one plays out, BNB will soar to around 13.3$ just like the the chart no. 1), but it will make more sense - so treat it as a simple adjustment to the starting point of EW counter.
Well, this chart can be summed up nice and easily like this:
If BNB stays around 10.7$ - 11$ AND bounces from purple trend line. We might see it go to 13.3$
For live updates on this be sure to follow on twitter at @virgin_crypto,
Thank you.
NOTICE the candle time (3H). This is a VERY LONG play (days - maybe even a week), mostly done because I think I see a good EW pattern there.
If you look at my previous charts you can see that BNB really loves Elliot Waves, that's why I see this as plausible.
Legend:
1)
In white, you can see that the current EW that seems to be forming.
If 12$ will be the last High Point before a nice corrections (and it seems to be) then a correction to 10.7$ (maybe 11$)
may be on it's way. I charted this correction with an ABC based on Fib Retracement, but It might go ABCDE with 5 points. Although BNB seems to make more ABC's than ABCDE's.
2)
In yellow I made another EW pattern while ignoring that big pump because of the Binance Chain announcement.
Since that was out of the blue, with no way of foreseeing it I treat it as an anomaly caused by hype.
If this one plays out, BNB will soar to around 13.3$ just like the the chart no. 1), but it will make more sense - so treat it as a simple adjustment to the starting point of EW counter.
Well, this chart can be summed up nice and easily like this:
If BNB stays around 10.7$ - 11$ AND bounces from purple trend line. We might see it go to 13.3$
For live updates on this be sure to follow on twitter at @virgin_crypto,
Thank you.
Trade active:
5TH Yellow Wave stops at 13.3$
My bad on that.
That was put there before I noticed that the 5th wave would be longer than the 3rd (which is not *cool* with EW)
My bad on that.
That was put there before I noticed that the 5th wave would be longer than the 3rd (which is not *cool* with EW)
Comment:
Looking at the chart on 1H candles, it looks like correction might be happening on $11 rather than $10.7 if BTC stays strong.
Trade active:
Scenario 3)
If BTC keeps rising and BNB follows it, we might see $13.3 sooner than expected 'thus making this 2nd wave even longer.
If this happens, next Target is $15.
I'll update it more in detail tomorrow.
If BTC keeps rising and BNB follows it, we might see $13.3 sooner than expected 'thus making this 2nd wave even longer.
If this happens, next Target is $15.
I'll update it more in detail tomorrow.
Comment:
I really hope you guys read Trade Scenario 3) :)
We are going to $13 2nite
We are going to $13 2nite
Trade active:
Order books seems to agree more with $13 than $13.3
Place Targets lower of move S/L with the trend.
Enjoy profits
Place Targets lower of move S/L with the trend.
Enjoy profits
Order cancelled:
Go see chart no. 3 on BNB for today. Much, much clearer.
