BNB Analysis (4H)From the point where we highlighted the red arrow on the chart, the waves of the bullish phase have finished and the bearish phase has begun.
The bearish-phase pattern you see on the chart, which we have labeled, is a symmetrical formation.
The price proportions in this pattern are clearly visible, except for wave A which corresponds to the market crash and if we exclude it, the declines of each wave in this pattern range between 22% and 25%. This time as well, we expect a similar drop for wave I.
It appears that we are currently in wave I of this pattern, and we expect a rejection from the red zone downward so that wave I for Binance Coin can complete.
In the green zone, one can look for buy/long positions.
The closing of a daily candle below the invalidation level will invalidate this analysis.
invalidation level : 640$
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You
