Binance Coin (BNB/ BTC) BULLRUN MODE (Technical Analyze)

Hello stemian

i will share my technical analyze about BNB/BTC

in the daily chart u can see, BNB still on bullish mode. the main indicator is Simple Moving Average (SMA) 50 and 100 in above of 200 SMA. Green line is 50, blue 100 , and red 200. so daily chart talked to us BNB/BTC in uptrend.

In a elliot wave analyze, the first pattern 1 to 5 waves has complete, and correction ABC complete its pattern to.
so the next elliot pattern is 1 to 5 pattern.

in the next elliot wave analyze, the pattern will finish second wave. You can see green zone (green box), it is near support. the near support has tested in 5 candle until it can continue bullish. so in my opinion it can be a good support to the next third elliot wave.

in the moving average show near support in green line. i think the price probably touch green line, but it must breakdown the green zone as strong support.

In a candlestick pattern, the reversal candlestick has complete. You can see the last candlestick, it is form hammer.
And the stoch RSI will be a Golden Cross

in my opinion, when BNB/BTC bounce up it will complete third wave in 1,618 fibonacci retracement level. if BNB/BTC follow the elliot wave pattern we will got 116.27 % profit.

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have a good day

Picture source : Tradingview.com

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