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 [Music] Welcome to another update video about BNB BNB continues to show strength and To be honest this latest development Here it's a five wave move and I like it Even more than what I currently see on The ethereum chart so BNP really really Shows a lot of strength so what does That mean does that mean we already Indefinitely in a breakout scenario or Not well it's a bit too early to confirm That overall you know that I I think That BNB is one of the best charts out There even though the Structure here is a bit messy Of course already or also generated by The FTX issue and the drop on the 9th of November So that obviously didn't help right Um with creating a nice structure But it is very much possible that this Is a one two setup still so that we have Here a wave one which peaked at around 330 dollars and this is a wave 2 where We bottomed now at around 250 dollars in The green support area and we're now on Our way up in the wave three there Should then be a wave 4 and the wave 5. So this is sort of the the more bullish Scenario And then we have the well in this Scenario but um in this scenario we Should now very soon

And this rally here yeah I mean we moved Up from 250 to 318. Um there is currently no signal that it Is topping yeah no signal yet but Um Based on the current High the support Area would be between 265 and 284 Dollars this is between the 78.6 FIB Level and the 50 FIB level The retracement should ideally if it's a Wave 2 go into this area this is an area Where I will scale in Into BNB right Um so this is one scenario and it should After that rally to the upside in the Yellow count However do we have to be in the yellow Count no of course not there's another Possibility which is the green count Where we say Wave 2 isn't in yet Wave 2 Will be finished here And this is just a large w x y pattern So that means we could come down a Little bit lower than the previous low Here of 250 maybe all the way down to 215 dollars Only below 250 15 this chart will get Bearish and we could drop to 100 or even Below that which means any stop loss I Would set below 215 dollars yeah no Financial advice that's only what I Would do So we've got two scenarios they are Broadly both bullish yeah just in the

Green count we expect a little bit more Of a retracement How much would that be so let's say we Come down to this area the yellow count That would be the first scenario Or we can drop another let's say 20 There is not really much in crypto it is A lot if you look at stocks no shares It's not really a lot in crypto 20 they Can do that in a week right so it's not Really too much of a difference and Therefore one possible approach how to Deal with this would be to scale in as I Have shown it before With that kind of triangle scaling in Method where you could scale into the Support areas and um You know you start here with a very Small position size where the triangle Is very small the top of the triangle Small position size and you buy batches As you scale in and the price goes lower And you have the largest batch or the Largest position size as close as Possible to the invalidation point which Would be 215 dollars but it's not Strictly speaking in validation but it Is the level where invalidation will get Very likely Um Which is then you know not a big deal if The trade fails because you have most of Your risk very close to the stop loss That's how I normally deal with it and

Should it not work out then we have to Set our trading range lower But this is a good setup in my opinion And I will start to scale in in the Yellow support area so there's two clear Scenarios Is it guaranteed they work out no of Course not you know it's all about Probabilities it's all about Yeah probabilities there are no Certainties in this market but this is Something that I like quite a lot here This chart structure isn't great but the Latest move up here is really really Interesting and could show that we have Some bullish potential coming up here For B and B and just to give you a rough Idea let's say we come down into this Yellow support area And we start from there then we have a Target to the upside Of around 375 dollars so we go down Let's say to 265 dollars from there we Could move to 375 in a Wave 3 then there Will be a shallow wave four or there Should be and the wave 5 to the upside That could reach the 2.618 extension and Then we're talking about 440 roughly 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

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