Binance Coin BNB Price News Today – BNB Technical Analysis Update Now and Price Prediction!

Binance Coin BNB Price News Today - BNB Technical Analysis Update Now and Price Prediction!

Foreign Welcome to another update video about BNB BNB has dropped below this level Around what did I say I think it was the 263 dollar level that I mentioned if we Drop below that we are most likely going To get into this larger support area and That was the original support area here For the Wave 2 and it has really taken a Long time to get into it I mean we Touched it a few times yeah there was Time here to go long these are always The areas where I would expect the price To reverse which it did massively so There was a significant or substantial Time for anybody who wanted to to get Long here Um then we we rallied massively uh Really massively to 400 nearly and now Came down crashing now there's a few Problems now with this count and we're Going to take a look at that Um overall we identified obviously this As a possible wave one that was back Here in all focused then that we would Most likely get into this region which We did and we've now finally got deeper Into it this is sort of the larger wave Too and I can also tell you that there Is not really anything bearish on this Chart until we drop below 215 US dollars But is there a guarantee this support Area is going to hold no of course not Um a problem here with this chart is

That in the bullish count I would have To interpret this as a wave one Then w x y or even ABC that doesn't Really matter in this case too much Um and basically an expanded flat Pattern which Um had a massively overshooting Corrective wave and is now coming down Well I think I would have to label it ABC to be honest and I'm going to do That now because the move down is quite Impulsive that's not the Y wave so we're Putting this a B and now C and This is one scenario where I'd be Looking at somewhere in the you know Sort of a support somewhere in the range Around 220 to 240 US Dollars Um within this box so this is the larger Box between 215 and 260 but if I specify That further then smaller support would Be in that region around 240 to 220 and As you can see there was a significant Swing low here on the 26th of July Exactly at 240 so that would most likely Act as some support we had here some Um previous spikes around the 240 level So 240 is an area where we could see a Bit of a I think now actually it's Coming down quite strongly but 240 will Be support level Um And anywhere below 215 the bullish Potential will be gone so it would then

Get very unlikely that this is still Going to work out bullish at the moment We are in the support area there is no Sign for a reversal yet but anyway in Here I would ideally see it reverse and By the way the 61.8 percent FIB Retracement the golden ratio that is the Uh 240 level pretty much and that is why Do we expected some support so you can See support and the 61.8 Fib level that Was also a previous support and Resistance here so this is an area that Is definitely worth watching out for Um and this would be a c wave and then We should really in a wave three to the Upside that would be the bullish Interpretation There is however also The View And that's the other wave count that What we're doing here is just a larger Wait what did I do what did I do Yeah That the purple count is at play here And the purple count actually leads to New lows so it would be a larger a b c Pattern and we would come down maybe Into the region around 100 so there's Two different wave counts here and with The edit waves allow us to understand When which level which price range will Get in or which count will get into Control so very clearly below 215 US Dollars the purple count is clearly in Control and if I am buying which I'm not

Entitled to it if I'm going to buy any BNB in this range then I'm going to get Out of it should it drop below 215 US Dollars because then I would Envision That prices go down as low as maybe 100 Or even lower okay Um irrespective of which count is Playing out is it the green cut or green Yellow count which is the bullish one Where we should rally in a way three or If it's the purple count in both Scenarios somewhere between now and 240 I would expect the balance And if this really happens in a purple Wave too it would be a corrective wave Pattern and if it happened now it would Go into the region between well ideally 325 to 368 US dollars The 50 to 78.6 FIB level And if it is going to be the the green Yellow count which is the bullish one Well then we would make new highs right So Which means in both scenarios I would Expect a move to the upside of course in The purple count it's not guaranteed but It's reasonably likely to expect that But bear in mind at the moment there is No signal that this is happening yet Yeah there is absolutely no signal yet Um But that is Um therefore it is worth thinking about For me at least you know I have no

Financial advice but for me it's worth Thinking about do I scale slowly into BNB in here if it drops below 215 I'm Gonna get out of it but if it bounces Either if it's a corrective move or an Impulsive one if I see it's corrective I'm gonna get out of it in profit if It's impulsive I can really oh I can Actually hold it you know much further Obviously and move up my stop losses and Whatnot Um but yeah this is an interesting chart Certainly at the moment and both counts Possible but there's a clear strategy How you can play both of them as I just Explained or how I would do it yeah no Financial advice and that obviously the 215 level makes invalidation very likely 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 then please check out the Channel membership thanks a lot for Watching bye

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