BNB has been in a correction since the start of December '24. And as time went by, it developed into an combo correction.
I believe we are at the end of the purple B-wave of the green (Y) wave.
We are right now finithing the white ((c)) wave of purple B wave, so we are going to see a small wave up until around the 630-640 level. And after this the purple C wave is going to take on downwards.
And since very rarely the c wave has a shorter timespan than the a wave, we are not going to see this correction end until the end of may/ start of june.
I believe the purple C wave are going to take us down to the 382 level in that yellow box.
The 383 level is the 61.8% retracement of the primary white ((1)) wave. And this level is also roughly around the 100% Fib level of the purple A wave.
If price comes to the green box I've drawn out. I belive that would be a good time to start looking for a confirmation to short.
I believe we are at the end of the purple B-wave of the green (Y) wave.
We are right now finithing the white ((c)) wave of purple B wave, so we are going to see a small wave up until around the 630-640 level. And after this the purple C wave is going to take on downwards.
And since very rarely the c wave has a shorter timespan than the a wave, we are not going to see this correction end until the end of may/ start of june.
I believe the purple C wave are going to take us down to the 382 level in that yellow box.
The 383 level is the 61.8% retracement of the primary white ((1)) wave. And this level is also roughly around the 100% Fib level of the purple A wave.
If price comes to the green box I've drawn out. I belive that would be a good time to start looking for a confirmation to short.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.