Binance Coin - BNB - Projection - Elliott Wave

BINANCE:BNBUSDT   Binance Coin / TetherUS
In this count, BNB finished its 1st wave at the .618 retrace of the major 2 that bottomed in December 2018. Red alternative ending at the .786 is also presented which would see a pullback ideally do the $15 region.

In the primary count, we're either looking for a bottom in the triangle with a high B-wave, or we've already started up to circle-3 as a leading diagonal .

I don't particularlly like the shallow ii, so I wouldn't be surprised if we see the red count here.

If you target either of these trades, the stop will be the red line. If you target circle-2, you'll buy as close down to the red line (deep into the triangle) as possible, with a stop at the red line. If we pass that red line, the red count will become primary and we'll buy as deep into the blue box as possible.


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