Foreign Welcome to another update video about BNB Finance coin obviously did some Crazy moves over the last 48 hours Um I think since then I've already made one Video just would like to clarify also With the latest bounce what the Possibilities are here and what I think Is going to happen so first of all Generally it is one of the better crypto Charts of course this this sort of messy Development here had to do with FTX and The whole story around it however we Could still consider it to be in a Bullish pattern so that this year was Wave one this here Wave 2 and we're now On our way into a third wave Which is normally the most bullish wave In such a development however to make That work the development that has Occurred here would need to be a wave One and then here wave two down next Away three up four down a five up and so On so it would need to stretch out like That Um the problem I have with that Development is that the move down was Very strong and it is really really it Has really retraced a lot so if I draw The fips So if you can see the Fibonacci levels We have actually dropped down below the 88.7 FIB level yes we did hold it but if
This really is a one two pattern in the Third wave which would be a bullish Pattern then it is one of the most crazy Wave tools I've ever seen Um so it really really needs to Rally Higher now what it really needs to do Um it needs to give us five waves it Hasn't given us five waves because even The Let's say the um if we are now in the Third wave yeah and obviously you need Your sub waves you need a wave one two Three four five to fill in wave three So what we need to see Is the completion of wave one however we Only have three waves there's a few Coins that have given us five waves like Bitcoin there are other coins that have Given us three only here like B and B so At the moment there's only an ABC as it Seems and um unless we really get above 312 dollars we can't really say that we Have a one two pattern here because as Long as this is the case there's a real Risk that it's going to put in Um You know that is going to put in a um A corrective wave to the downside that We will make one more one more lower low Really so all I can do here really I just um let me just see all I can do So The chart pattern where we say that we Have bottomed here in wave two
This would yeah this would be this one But again until we get five waves we Really really need to have on the radar That Wave 2 was maybe never finished That we did get a very very crazy Um yeah that we that we've got a very Very crazy Um wxy pattern here where the wire wave Doesn't actually change but the wave X Would be up here So the W wave doesn't change the wave X Is up here and the Y wave is coming down Lower so it's putting in a y which is Going to put to be a bit lower Um And this pattern is not necessarily a Problem it just means we come down a bit Lower It's just that we haven't really seen Five waves to the upside yet so I can't Really confirm that we've got you know That we are in a breakout pattern Already Um but even if we come down lower I mean A lot of people could use that to buy in Again if they think they've missed the Low Um but the point is that it also Wouldn't be really bearish it will Really only turn bearish as long as we As soon as we go below 215 dollars that Is from where we are currently Still another 27 drop right so as long as we don't
Really have five waves Especially as we have an overlap here my Primary expectation would be that we Come down a bit lower Um And that the breakout scenario is not There yet it has to be that we come down A bit lower that has to be my Expectation Um let me take the target area out here Because it's not relevant anymore But yeah confirmation by the way for Another move down here in a y wave would Be if we break well it's it's not Confirmation necessary but indication That we drop below the 269 dollar level This swing low here and then I think We're on track to delivering a lower low All the way down to 200 and fifteen Dollars not below the June low yeah we Are far away from that that would really Only occur If we're losing this this support box Um it's a very relevant one the price Has tested it several times now bounced Of it and this goes down to as I said 215 US Dollars okay that's my update About Finance 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 Thank you