Foreign [Music] Video about the BNB so BNB continues to Have this long Possible long trade setup here a wave One to the upside a wave two to the Downside here on the four hour chart and All of this is part of a larger Structure I've got two wave counts here Two possibilities I mean eventually There are more possibilities but two of The most likely two of them are very Likely to work out and that's Essentially my job to identify out of The let's say theoretically infinite Amount of possibilities the one two or Three Um yeah most likely scenarios and how it Could unfold here my view is that this Moved up in a wave one back in August And yeah the primary expectation would Be that we moved down in a wave a we Moved up in a b wave and came down in C We bottomed here around 250 dollars in a Wave C of two and Um yeah we could be moving up now in the Third wave and within the third wave We've got a small one two setup and we Are waiting for the small third wave Within the third Wave It's the primary Expectation and as long as we are Holding 265 dollars That would be my view that we can go With that right there's a Trader Below
In place then yeah in this area Um however if we drop below this support Area we will probably morph into the Alternative wave count which isn't much Different uh to it but we just have to Move this wave to lower basically lower In the green area Um it is not an ABC then it would be a So-called w x Y pattern and the y-wave could go down All the way to 215 dollars but if we go Below that level then the whole chart Becomes bearish at the moment this is an Entirely bullish context but it won't we Can't really get off the ground here We've tried it a few times we came down Bear in mind this could also become some Kind of a head and shoulders pattern you Know so I just want to warn you nothing Is for definitely nothing is for certain In these markets we can only trade what The chart gives us and we can trade low Risk High reward setups and we've Currently entered again one of the key Support areas here yeah against which A long trade could be entered if you Want to do so yeah I can only show you The areas where I believe that the chart Will turn around Sometimes there's more than one pattern Or more than one structure so we just Need to be prepared that should we drop Below 265 dollars we have another chance Here in a y wave in the screen support
Area but my primary expectation would be That the lowest in here in Wave 2 we can Go with that as long as it's invalidated So the real question is is this Wave 2 Already finished here the small Wave 2 Is this already finished well it could Be but there is no evidence for it yet I'm not convinced it's finished to be Honest there's two reasons for it if we Consider this as an ABC structure then The ideal Target I mean you know Throughout this period here early December I told you ideally we make one More low which we did now we came down In a fifth wave However we didn't come down far enough Yeah I mean it's not invalidated or Anything it's not invalid it is valid Count you know we have five waves down But if we consider the ideal wavelength For the C wave it should have taken it Should have taken us to 275 dollars and That's what we currently see with Bitcoin ethereum also those current or The current correction is currently Happening just now here the Bitcoin and Ethereum Corrections they were a little Bit short so that's also why I think you Know we have maybe one more chance to go Down a bit lower here Um into the yellow support area as long As we're holding 265 dollars this will Find us all part of this scenario Um and within if we drop once more lower
If we lose the previous support here 281 Dollars then I think the next key Support will be 275 dollars within this Area and then we are probably still in This wave five okay so that's my view or And that might be another way to Interpret this maybe this was the three Maybe this here was the four and we're Now in the fifth wave down that would be Another way of interpreting this as some Kind of an ending diagonal pattern here In a wave c yeah so because the the Movement to the upside here doesn't Really it doesn't really Um convince me my view is that we are Still heading a bit lower here At least have a good chance unless we See a strong rally above 298 dollars That would be the point where I say yes The low is in but at the moment the Movement here to the upset was also just A three wave pattern nothing impulsive Yet and uh the engulfing red candle here To the downside that is quite striking As well and yeah I'm not yet convinced That a lowest mid has been made Um especially as we haven't moved above 298 dollars that's the level that I told You in the previous video as well and in The uh on the signals channel on Discord And telegram as well mentioned that we Need to have a move above 298 dollars Only then I can confirm Um as good as possible right because
There is not an absolute confirmation in These markets but only then I can really Yeah have a good view that the low has Been made and then I'm looking at the Wave 3 to the upside and the Wave 3 Target could take us two it depends on Let's say we come down to 276 or 275 it Could take us to 386 dollars which Wouldn't be bad right okay that's my Update about BNB 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 [Music] Thank you