BNB Elliot Waves Analysis - Bearish My Elliot Count of BNB
So far we are still in a correction looking to complete the final wave 5. I used numbers instead of letters so that it is easier to understand for those not familiar with Elliot count.
The waves seem to fall into place very neatly, the latest bullish momentum appears to be in 3 waves up, waves A and C both have 5 wave sub-counts. Since its a 3 wave move up, we are now expecting 5 more waves down to complete the final leg of C. Ignore the time frames as this can take from a few weeks to a few months. In my opinion we are going down to retest the height of the previous bottom. This whole move down I believe is wave (2) of the bull market, after this correction ends we can continue to wave 3 into late 2020 which I believe will take us to new all time high's on BNB. I drew a small birds eye view snapshot of where we are in the correction currently to give you an idea, hope it helps some people get the bigger picture. I am bearish short term and bullish long term.
Not a financial advice, just my analysis. Good luck!
