LONG BNBUSDT | Elliott Wave Impulsive
Technical Analysis
As you see in the chart, we could now enter in the 5th wave, the last Wave of the Elliott Impulsive Pattern.
It offers us a long position.
Even if the price rebounded just bellow the Fibonacci 0.618, I place the target profit at 1.382 to higher probability to make profit.
Entry Price: 532.5$
Target Profit: 774.6$
Stop Loss: 463.9$
Ratio Risk / Reward: 3.53
Potential Profit: 45.46%
Fundamental Analysis
Each Quarter, Binance burn a significant amount of BNB that increases the value of its token. This next burnt will occur in this month (January).
However, we need to take into consideration that cryptocurrencies are currently uncertain and we should take a look at the Bitcoin price too. Indeed, if BTC breaks, it will bring other cryptocurrencies down too.
Market Capitalization
I am also curious to earing your opinion too.
Should you feel that this analysis helps you, feel free to leave a like, and I wish you a good day!
As you see in the chart, we could now enter in the 5th wave, the last Wave of the Elliott Impulsive Pattern.
It offers us a long position.
Even if the price rebounded just bellow the Fibonacci 0.618, I place the target profit at 1.382 to higher probability to make profit.
Entry Price: 532.5$
Target Profit: 774.6$
Stop Loss: 463.9$
Ratio Risk / Reward: 3.53
Potential Profit: 45.46%
Fundamental Analysis
Each Quarter, Binance burn a significant amount of BNB that increases the value of its token. This next burnt will occur in this month (January).
However, we need to take into consideration that cryptocurrencies are currently uncertain and we should take a look at the Bitcoin price too. Indeed, if BTC breaks, it will bring other cryptocurrencies down too.
Market Capitalization
- BNB: 3rd
I am also curious to earing your opinion too.
Should you feel that this analysis helps you, feel free to leave a like, and I wish you a good day!
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