BNB Elliott Waves suggest a price of $1250 in May '22My current wave count for BNB. Please comment below with your thoughts on BNB and my analysis in this graph.
White waves are from the weekly chart
Orange minute waves on Daily
I start my wave counts on the weekly chart first, then I move to the daily chart to verify my count with minute waves within each weekly wave. I originally counted BNB to be beginning wave 5 on the weekly, but that count was soon invalidated on the daily chart. So I started over on the weekly and found us in the middle of impulse wave 3.
By my count, we're also in wave 3 on the daily timeframe, which suggests much more upward movement to come. And based on Fib. levels from the orange daily wave count, you can see the 1.618 level (measured from the bottom of wave 1 to top of wave 3) marking a target of $1250 as the top of the current impulse wave.
Note the confluence on the MACD and RSI, as well, which have each maintained an uptrend parallel to price action since the local low back in May.
Anybody else see it this way? Would love to hear your opinion on my count or the BNB chart, in general.
Not financial advice.
I'm not a Financial Advisor.
