Thank you all for the recent comments, likes, and PMs. It really helps me out a lot as a trader on this awesome platform. BNB has been working overtime lately so let’s take a serious look at it to see if there’s still more room or if that’s it.
Since these recent waves (from Feb 6th to June 6th) are more of a side way action than actual impulse waves, I’m going to call it a smaller degree correction of a larger correction. So if the wave from Jan 12th to Feb 6th was the first of 3 waves down, and the recent sideway waves are the corrective waves, then we should expect the last and final wave to go to roughly to either $7.50 or $5.50 range.
Technically we are looking bullish. However there is a resistance by the recent higher high trend line, as well as the .618 retracement of the wave from Jan 12th to Feb 6th. These along with other indications from BTC, we can safely assume that we should start seeing BNB correct. I'll be updating this post with more details on target the closer we get to that time. Please don’t forget to like or comment as it always helps to get feedback from you. As always, good luck and stay safe!
Kinashi-San
*The ideas and comments expressed herein are my personal opinions and should not be taken as financial advice. Being a trader, at any given point in time, I may or may not be holding the asset in question. This is not a recommendation to buy, sell, or hold.*