Foreign [Music] Video about the BNB BNB continues to be In this very strange wave pattern I Completely dislike this entire structure Here Um it's very strange structure Um but my primary expectation is at the Moment that we have a good chance to Move up from here But I don't think this is this drop that Started here at um 317 dollars is over Yet it looks like we should ideally get A bit lower Um the price structure just doesn't Suggest yet an impulsive move to the Upside from here also it looks rather Unfinished so my view would be That we ideally get into this region Between 265 and 285 US Dollars before we Move up yeah this is not the problem is This is not a great chart at the moment Anymore well generally the BNB chart is A good chart but it's sort of this mess Here Triggered by the FTX issue that creates A lot of issues also on the medic chart So it just shows at the moment there is A lot of uncertainty in the market right But it really looks like that this move Up oh sorry this move down here isn't Finished yet defined my key support area For a possible wave too and from here we Could then move up in a third wave I can
Give you a target for that as well So first of all ideally drop into the Region between 265 and 286 or 285 one Second yeah two let's say 286. And 265 that's based on the FIP levels Here Of wave one here between the 78.6 Percent flip level and the 50 FIB level Yeah Um and from here we could then move up In the third wave So it depends obviously in the end It depends on how low do we really go But um let's let's say we go all the way Down of this box and the target for the Third wave would be 376 US dollars So this is all valid as long as we're Holding the 265 dollar level so if we Drop below that it would just increase The likelihood that this sort of bullish Potential doesn't work out Yeah at the moment I've got it labeled As a wave one a leading diagonal then Here a wave two and that we are now in a Wave three it's absolutely possible Because we made with this low here A new low compared to that one that was Actually quite important I described That in one of the previous videos Um The yellow count ABC where the C wave Ends below the a wave and that is Exactly what we normally need to see and
Then we saw quite a strong reaction to The upside which is also what you want To see and the move disregard all of This yeah but the move from the low Looks much better than even what Ethereum did so I really like that Um and we talked about an upcoming Retracement in Wave 2 which is happening Now just think it would ideally drop a Little bit lower before it moves up Right What I cannot rule out is that we lose This Wave 2 support area and go down Deeper that would be a different wave Count well it would still be a one-two Setup wave one up Wave 2 down but it Would not be an ABC it would be a wxy Highlighted here in green and the Y wave Can come down a bit lower all the way Down to 215 215. Um And generally what you need to see or Understand as long as we stay above 215 Dollars there is nothing bearish on this Chart um at least not not short-term Bearish either yeah this is a support Area for this wider wave too highlighted Here in yellow And um you know You've got the potential either to start From here or to go down and then start From there these are two bullish options They are not too far away from each Other they are let's say you go into
This area and start from here or you Drop all the way down and start from There well anywhere in the green area Really Um we talk about maybe 20 price Difference that's not massive in crypto They can do that in a day or two or even In a week not not too much Um so therefore My idea is to maybe scale in here in Triangle shape right which means lower Position size up here and then as we get Closer to the stop loss large position Size to keep the risk minimal but it's Only that below 215 that's also Somewhere where I will set my stop loss Below that level it is most likely going To drop to around 120 100 right and um But even then you know the long term Chart is not damaged or anything it Would just mean a much longer drop in Bear market for BNB but at the moment Yeah short-term downside but then at Some point here very shortly also the Upside ideally In this yellow wave three 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 [Music]