BNB Blastoff, possible impulse underway
After Jerome Powell's comments, we have seen a big move in crypto as whole. BNB has not been left behind.
As you can see in the chart there may be an impulse in play with the 1-2 finished and currently putting in the third wave. Possible targets fro the end of the third wave would be near 275-280 area. After price has reached this area I expect it to retrace for wave 4 to reload longs and then shoot for the fifth wave near ATH prices. I have found confluence in price action from the last moves in those price points and fibonacci extensions for likely third wave targets. The volume profiles POC is also near that area and may act as resistance.
I will keep the chart updated.
As you can see in the chart there may be an impulse in play with the 1-2 finished and currently putting in the third wave. Possible targets fro the end of the third wave would be near 275-280 area. After price has reached this area I expect it to retrace for wave 4 to reload longs and then shoot for the fifth wave near ATH prices. I have found confluence in price action from the last moves in those price points and fibonacci extensions for likely third wave targets. The volume profiles POC is also near that area and may act as resistance.
I will keep the chart updated.
Trade closed: target reached:
Price reached my target for the expected 3rd wave and i took profit. However the price action during the day has led me to close the position and look for another trade.