Foreign Welcome to another update video about BNB BNB is it's quite a bit of a Shocking chart really Um we have made a massive pump all the Way up to around 390 well nearly 400 right and then came Down crashing really but the special Situation here is that we haven't broken That line of support we've come down to It now I think we've touched it five Times now Um if you know a headed or six times Five six times had you ever just had you Just you know issued some long limit Orders here at this level then you could Have just nicely traded this Um because these are the key support Areas right but of course you never know In advance the important situation is That this is still generally one of the Best shots in crypto so we had here our Wave one to the upside and either Wave 2 Is already in and was already in here But then the situation would be this Would be a one this would be a two that Bottomed around 255 then we would now be In the third wave to the upside and this Would be a one two setup it would be the Weirdest one to setup I've ever seen It's not impossible but because it is so Unlikely with this strong move down and Basically this 95 retracement Um my primary expectation isn't has
Already been in the last video that we Will make a lower low in two Um just because also if I now look on The lower level or the lower time frame There is nothing bullish there So this is clearly a three wave move to The upside since the low so of course You know what we are looking for when we When we come down like that let's say This is a one two setup and we would now Move up in three next then we would Ideally want to see so take that out Ideally we would want to see an impulse From the loads with the upside we don't See an Impulse here clearly not this is A very very clear three-way structure so Should we go up from here and break Above the 312 level then this would be a Diagonal but I'm really really Board of looking at diagonals because We've had a lot of diagonal patterns in The in the in the last few weeks and Some of them just didn't work out so we Just need to be careful with that if you Don't see uh let's say a proper impulse And you only see diagonal patterns then This is always a sign that things could Go wrong because they can very easily be Interpreted as corrective waves ABC and We would come down from here the problem That we at the moment have on various Scripted charts it's the uncertainty That you see in the market we have three Waves up but also the move down isn't
Really impulsive so you have corrective Move up a corrective move down that is a Bit ambiguous it's a bit unclear again Should we move up from here and break That 312 level then I think we could Actually reach the 380 dollar range Which is not bad but it would just be in Line with the diagonal pattern Yeah so Basically a b c a b c or w x y ABC ABC And ABC up so you have then a five wave Move to the upside which would indicate A trend change and would indicate that We are in a third wave But it would all be within the scope of A diagonal pattern so you get five waves Up but each of these sub waves is a Corrective price structure Um and then we could be in the third Wave to the upside already and this Would then be the first wave of the Third and that could take us to around 380 US Dollars based on that or maybe Not quite that high let me just double Check that depends on how low we go as Well Um yeah no if we look at sort of the Yeah 200 extension 380 dollars maybe Even the 2.618 extension to 440 so There's quite a bit of a range there Where we could move up to about for that We need to break above the 312 US dollar Level that is not primary expectation at This stage because we only have three Waves up very clear three waves up and
Unless I see a move above 312 dollars I'm going to focus him on the downside But please be aware that this Possibility exists to move higher Um because we haven't broken that Support yet but it's just unlikely here We basically have Um touch that support level so often That we'll get brittle at some point and We should break down and then we would Come down in an extension here of the Wave two just to the downside maybe into The region 220 to 240. what happens if We break below 220 nothing significant Nothing bearish really well short term Bearish it would be but Um then we would have here just another Extension to the downside that could Take us into the region between 60 and 100 US dollars for a new low that would Be quite a substantial drop I don't see That at the moment also that to be very Honest that would not be bearish that Would not be overall bearish because can You if you look at this overall bit BNB Chart this has been holding so well and It has dropped much much less than other Coins so I mean we without a problem we Could come down you know we could come Down to the 83 level yeah for example The 88.7 FIB level some cryptos are There for example if we look at the FIP Levels alone Uh Solana is down here here even below
The 88.7 Ada is just hovering around the 88.7 FIB level Um ethereum is just above the 78.6 so BNB is holding so well so it means even If it drops lower even if it loses the June low there wouldn't be anything Overall higher level bearish on this Child so that's why I say this is Actually one of the best charts in Crypto short term there's a bit of yeah Distortion and it's a bit strange with a Strong decline but that was obviously Triggered to a degree also due to the FDX issue Um But yeah this this current price action Here doesn't really give me a lot of Confidence for a for a move to the Upside it's possible but primarily I'm Focusing here on the downside but you Know that if we break above 312 we can Focus carefully on bullish maybe all the Way up to 380 dollars Okay and 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 please check out the channel Membership thanks a lot for watching bye Thank you