Foreign Video about binance coin BNB here we can Keep it very short actually Um you will remember that I talked about Um most likely getting here one more low In a way five now we did get that So theoretically the low could be in However what's currently moving up here Is not strong enough nevertheless we can See we made that additional low that I Waited for we came into my yellow Support area a little bit deeper than we Did here on the 2nd of December we moved Up we retraced we are touching the Descending wedge which is generally a Bullish reversal pattern we touched it Again yeah so basically a retest and From here we could now rally yeah we Could Rally from here this is too early To confirm it but it is an interesting Setup we have five waves down one Two Three four five and then a break out of The wedge to the upside I can't really Confirm that it has bottomed until we go Above 298 dollars but it is certainly an Interesting setup so I can only tell you That there is now a good chance that we Actually ready from here yeah especially As it seems at the moment that This support is holding now the only Problem we have with that Is that um we don't really have the Volume at the moment yeah
Um and it's weakened so it could very Well be that this is failing because We're getting into the weekend Saturday Is normally a very quiet day so we might Fail because of that and get one more Low as long as we stay below 207 or 98 It is still very much possible to get One more low Um and to be fair we talked about that Before the ideal Target because this is An ABC pattern yeah the ideal Target for This is actually the 276 dollar level so We haven't reached it yet it would be Ideal to reach it but I'm pointing out Here that we've done we've got a very Interesting trade set up here at the Moment here Um and then as long as we're holding the Yellow support box I see this as a one Two setup in general yeah Um which means that the next wave up Could be really a wave three as long as We're holding that support that I showed You which is between in 265 dollars and 286 yeah as long as we don't go below That this is a valid wave pattern and it Could rally in a third wave into which Price region so let's just Let's assume we come down maybe to 276 dollars the target would be 386 Dollars for away three So it's definitely a possible long trade Setup here you could even call this a Bull flag and we could move up if we
Break below 265 dollars then we're gonna Fall back into the Green Wave count here In the yellow wave count which is at the Moment the main count we can assume that This Wave 2 the larger degree Wave 2 One Two yeah with an ABC in between Or as part of the wave two yeah you have An ABC that this Wave 2 was finished we Can currently assume that that Wave 2 Finished at 250 dollars In the larger support area you know Which has been very relevant as well we Touched it once here twice third time Fourth time five times six times Actually so it's been a very very Relevant support area I've been showing The talk about this support area for Months now yeah and whenever we touched It we bounced of it Um but yeah if we lose the yellow Support area we're going to fall back Into the green count which is not much Different to the yellow count Um we just have to reset in this Scenario the wave two and would say We're not in an ABC we're actually in a W x y that would allow for one more low And um we could come down lower into the Green area and Um in this in in that scenario then if We still want to have a chance then to Rally in a larger third wave if we lose The yellow support area yeah then we
Need to hold the 215 level below 215 The strong price drops will be expected Maybe all the way down to 100 that's my View here about pnb Just a quick update make your way off That setup hope you like the update if You did please hit the like button leave A comment and subscribe and if you Really like the content then please Check out the channel membership thanks A lot for watching bye