BNBEUR
6,083 views
25 Posts
Hot
Latest
#BNBEUR chops sideways under the expected resistance above, while 5th #Elliottwave of some degree can be considered done, as long as the quoted 510 #EUR stop holds, more immediate upside around 570 can be seen. First support below around 480 if $BNB breaches stop. #BNBAnalysis
LIVEEuroChartCreator
--
The #Elliottwave diagonal green channel keeps working for #BNBEUR and long stop is now up to 510 #EUR
It was a good idea to move the aggressive short stop down to 535 as quoted below and that level now becomes support for short term bull.
Note that $BNB is likely approaching a temporary top as
1. negative divergence is building up on the hourly,
2. the angle of ascent is being flatten,
3. we're now just slightly below the 2021 double top and the March'24 ATH,
4. 557 is both 0.618 retracement off the June high and 1.618 extension off the July low.
Expect more resistance in the near term.
#BNBAnalysis
It was a good idea to move the aggressive short stop down to 535 as quoted below and that level now becomes support for short term bull.
Note that $BNB is likely approaching a temporary top as
1. negative divergence is building up on the hourly,
2. the angle of ascent is being flatten,
3. we're now just slightly below the 2021 double top and the March'24 ATH,
4. 557 is both 0.618 retracement off the June high and 1.618 extension off the July low.
Expect more resistance in the near term.
#BNBAnalysis
The #Elliottwave diagonal green channel keeps working for #BNBEUR and long stop is now up to 510 #EUR
It was a good idea to move the aggressive short stop down to 535 as quoted below and that level now becomes support for short term bull.
Note that $BNB is likely approaching a temporary top as
1. negative divergence is building up on the hourly,
2. the angle of ascent is being flatten,
3. we're now just slightly below the 2021 double top and the March'24 ATH,
4. 557 is both 0.618 retracement off the June high and 1.618 extension off the July low.
Expect more resistance in the near term.
#BNBAnalysis
It was a good idea to move the aggressive short stop down to 535 as quoted below and that level now becomes support for short term bull.
Note that $BNB is likely approaching a temporary top as
1. negative divergence is building up on the hourly,
2. the angle of ascent is being flatten,
3. we're now just slightly below the 2021 double top and the March'24 ATH,
4. 557 is both 0.618 retracement off the June high and 1.618 extension off the July low.
Expect more resistance in the near term.
#BNBAnalysis
LIVEEuroChartCreator
--
The green channel works pretty well for #BNBEUR, it flirted around 485 #EUR but 475 stop held and rallied into 540, a shortable region as quoted below. Stop can be moved down to 535 if you took the short.
Note that this $BNB rally off the July low has been rather corrective #Elliottwave so lots of variations on the hourly. As long as the current pullback holds above 490 I can see 555+ next. I'm keeping my long stop at 475 for the moment, though nothing wrong with taking (partial) profit here if went long against 435 and/or 475.
Note that this $BNB rally off the July low has been rather corrective #Elliottwave so lots of variations on the hourly. As long as the current pullback holds above 490 I can see 555+ next. I'm keeping my long stop at 475 for the moment, though nothing wrong with taking (partial) profit here if went long against 435 and/or 475.
BNBEUR still below 580 cluster
$BNB got the expected lower low and the subsequent bounce is corrective so far. The #BNBHODLer activity gave a boost from the 536.8 #EUR low but note the rally off the 550 low seems to be 3 waves in #Elliottwave term. If that low holds, measured move to the upside only target 579.1, around the important 580 level for #BNBEUR
Weekly view: look for 420 if under 510, without invalidating the longterm bull case; aggressive long should already have a stop under 540 though.
Bonus: those interested in the potential outperformance of BNBvsSOL should pay close attention to the 0.20-0.16 region of SOLBNB, and I would not want to see it drop under 0.13:
#BNBAnalysis
Weekly view: look for 420 if under 510, without invalidating the longterm bull case; aggressive long should already have a stop under 540 though.
Bonus: those interested in the potential outperformance of BNBvsSOL should pay close attention to the 0.20-0.16 region of SOLBNB, and I would not want to see it drop under 0.13:
#BNBAnalysis
#BNBEUR holds 510 #EUR long stop and the correction off the 554.2 top is a clean ABC #Elliottwave so $BNB continues to look up to 560-570 i.e. to retest the lower half of the green channel as long as the last low holds. #BNBAnalysis
LIVEEuroChartCreator
--
#BNBEUR chops sideways under the expected resistance above, while 5th #Elliottwave of some degree can be considered done, as long as the quoted 510 #EUR stop holds, more immediate upside around 570 can be seen. First support below around 480 if $BNB breaches stop. #BNBAnalysis
#BNBEUR has a decent chance to bottom here on the hourly level, it's getting back above the red channel and I can make case for 5 waves up in #Elliottwave term, 582 #EUR can be used as aggressive short stop for the next few hours. Just be mindful that $BNB is still in a down trend on the daily so 554 is a good stop for aggressive long. On the weekly it's solidly in a uptrend.
BNBEUR hourly 530 vs 580
$BNB clearly posted a 3 waves up in #Elliottwave term, off the 511.4 low and reversed quickly below the 2021 double top.
First sign of new bullish trend will be back above the upper half of the red channel ~= the important level of 580 #EUR
Until then I'm watching bottoming structure for #BNBEUR around 530:
Failing to hold 530 on the daily, or 504 as intraday signal, next major support will probably not be found until the lower 400 region:
First sign of new bullish trend will be back above the upper half of the red channel ~= the important level of 580 #EUR
Until then I'm watching bottoming structure for #BNBEUR around 530:
Failing to hold 530 on the daily, or 504 as intraday signal, next major support will probably not be found until the lower 400 region:
#BNBEUR setup for the next few hours:
Taking a small $BNB long here against 622 #EUR as I can make a argument for 5 waves up #Elliottwave
Minimal target measured move to 639, max loss 0.90%.
Taking a small $BNB long here against 622 #EUR as I can make a argument for 5 waves up #Elliottwave
Minimal target measured move to 639, max loss 0.90%.
LIVEEuroChartCreator
--
BNBEUR approaching intermediate top
After #BNBEUR breaking out of a triangle to the upside, the target of 700+ #EUR from Wednesday becomes even more realistic. However, several indicators are showing negative divergence on the daily and weekly. Given triangle in #Elliottwave term is either a 4th wave or b wave formation, with only one last leg to go, one should be cautioned that the current rally will end soon and a sizable correction will follow in probably a few weeks. Longterm $BNB buyer should be able to get a better entry in Q3 or Q4.
On the weekly chart while several projections point to the 750 region, one should pay close attention to the breakout level around 580, with 13 SMA as last defense.
On the very short timeframe, the 617 level from Friday is still holding, I'm now moving it a bit lower to 616 as stop for agressive long, and adding 655 as stop for agressive short = confirmation of upside continuation.
On the weekly chart while several projections point to the 750 region, one should pay close attention to the breakout level around 580, with 13 SMA as last defense.
On the very short timeframe, the 617 level from Friday is still holding, I'm now moving it a bit lower to 616 as stop for agressive long, and adding 655 as stop for agressive short = confirmation of upside continuation.
Moving #BNBEUR stop up to 515 #EUR with expanded flat #Elliottwave (azure labels) as the most immediate bullish path, but great RR either way for both aggressive long and short.
Look for 500 and 480 below if 515 breaks. #BNBAnalysis
Binance just announced that "Launchpool Supports DeFi BNB Assets in Binance Web3 Wallet" which should support $BNB future growth, so keep watching out for buy-the-dip chance in the weeks ahead but of course we're facing FED decision today with potentially extremly high volatility. #BNBToken
Look for 500 and 480 below if 515 breaks. #BNBAnalysis
Binance just announced that "Launchpool Supports DeFi BNB Assets in Binance Web3 Wallet" which should support $BNB future growth, so keep watching out for buy-the-dip chance in the weeks ahead but of course we're facing FED decision today with potentially extremly high volatility. #BNBToken
LIVEEuroChartCreator
--
#BNBEUR holds 510 #EUR long stop and the correction off the 554.2 top is a clean ABC #Elliottwave so $BNB continues to look up to 560-570 i.e. to retest the lower half of the green channel as long as the last low holds. #BNBAnalysis
1. That's why you always need a stop for trading.
2. Unlike BTC, #BNBEUR didn't post a convincing impulse #Elliottwave off the July low and is now approaching 0.618 retracement ~468 #EUR w/o much support on the quoted levels, be prudent if taking this long trade, lower size but wider stop: layer in between 470-450 w/ 430 or 420 stop gives 7%-9% defined risk.
3. Short stop can now be safely move down to 500 or even 490, or both to take profit in tranches.
4. Be mindful of the red pah potential on the daily, if 420 breaks measured move lower targets 350 without invalidating the bullish potential of $BNB to new ATH. #BNB_Market_Update
2. Unlike BTC, #BNBEUR didn't post a convincing impulse #Elliottwave off the July low and is now approaching 0.618 retracement ~468 #EUR w/o much support on the quoted levels, be prudent if taking this long trade, lower size but wider stop: layer in between 470-450 w/ 430 or 420 stop gives 7%-9% defined risk.
3. Short stop can now be safely move down to 500 or even 490, or both to take profit in tranches.
4. Be mindful of the red pah potential on the daily, if 420 breaks measured move lower targets 350 without invalidating the bullish potential of $BNB to new ATH. #BNB_Market_Update
LIVEEuroChartCreator
--
Moving #BNBEUR stop up to 515 #EUR with expanded flat #Elliottwave (azure labels) as the most immediate bullish path, but great RR either way for both aggressive long and short.
Look for 500 and 480 below if 515 breaks. #BNBAnalysis
Binance just announced that "Launchpool Supports DeFi BNB Assets in Binance Web3 Wallet" which should support $BNB future growth, so keep watching out for buy-the-dip chance in the weeks ahead but of course we're facing FED decision today with potentially extremly high volatility. #BNBToken
Look for 500 and 480 below if 515 breaks. #BNBAnalysis
Binance just announced that "Launchpool Supports DeFi BNB Assets in Binance Web3 Wallet" which should support $BNB future growth, so keep watching out for buy-the-dip chance in the weeks ahead but of course we're facing FED decision today with potentially extremly high volatility. #BNBToken
BNB longterm review 24Q2
#BinanceTurns7 and I remember vividly the days BNBUSDT was trading under 10 bucks around the 2020 crash. For reference, $BNB went ICO in July 2017 for $0.15 or 2700BNB/ETH. As per the yellow fibs below, BNB went parabolic to the May 2021 top and got through a flat #Elliottwave correction till June 2022, where a new rally phase as per the orange fibs can be observed.
That context is important when evaluating #BNBEUR as trading against #EUR didn't start until 2020 so we miss some info for the yellow fibs. Nonetheless the long term posture of both pairs is rather bullish, since parabolic move typically does not end with a long flat top. This sideways consolidation of more than 3 years is more likely building a firm base for more upside.
Looking closer at the orange fibs, one can see the strong resistance around 580 euro where BNB had a failed breakout, slightly missed the 1.618 extension. The reversal was swift into the low 400 region where support was expected:
6/14 BNBEUR hourly 530 vs 5806/20 BNBEUR still below 580 cluster
The action since the March 2024 top has been very messy, as demonstrated on the daily chart, but one can argue for yet another sideways consolidation after a parabolic rise.
The reaction off this July low at 421.2 has been constructive so far but I will not be surprised by a lower low. My bias remains bullish above 350 EUR, going under that will be a red flag and under 300 I will have to look for an exit.
#BNBAnalysis
That context is important when evaluating #BNBEUR as trading against #EUR didn't start until 2020 so we miss some info for the yellow fibs. Nonetheless the long term posture of both pairs is rather bullish, since parabolic move typically does not end with a long flat top. This sideways consolidation of more than 3 years is more likely building a firm base for more upside.
Looking closer at the orange fibs, one can see the strong resistance around 580 euro where BNB had a failed breakout, slightly missed the 1.618 extension. The reversal was swift into the low 400 region where support was expected:
6/14 BNBEUR hourly 530 vs 5806/20 BNBEUR still below 580 cluster
The action since the March 2024 top has been very messy, as demonstrated on the daily chart, but one can argue for yet another sideways consolidation after a parabolic rise.
The reaction off this July low at 421.2 has been constructive so far but I will not be surprised by a lower low. My bias remains bullish above 350 EUR, going under that will be a red flag and under 300 I will have to look for an exit.
#BNBAnalysis
LIVEEuroChartCreator
--
Bullish
#BNBEUR setup for the next few hours:
Taking a small $BNB long here against 622 #EUR as I can make a argument for 5 waves up #Elliottwave
Minimal target measured move to 639, max loss 0.90%.
Taking a small $BNB long here against 622 #EUR as I can make a argument for 5 waves up #Elliottwave
Minimal target measured move to 639, max loss 0.90%.
BNBEUR weekly in breakout posture
After briefly poked above the double top of 2021, #BNB spent 2 months consolidating in a ascending triangle.
Today it finally breaks out to the upside potentially aiming at 700-788 #EUR . #BNBEUR should now remain above the breakout level around 580 on a daily close base, otherwise it would invalidate this bullish outlook.
Today it finally breaks out to the upside potentially aiming at 700-788 #EUR . #BNBEUR should now remain above the breakout level around 580 on a daily close base, otherwise it would invalidate this bullish outlook.
While #BNBEUR holding itself above the red channel is initially a good sign, the sideways action looks increasingly like a 4th wave in #Elliottwave term, with at least one more lower low to go on the hourly. 582 #EUR remains a reasonable stop for aggressive short.
#BNBEUR holding 450 #EUR will be immediately bullish for the azure path, but I much more prefer a deeper pullback into #Elliottwave yellow (ii) for cheaper $BNB
Either way bull can try to long against 437 or 393, while aggressive bear can try to short against 505 and 535.
Either way bull can try to long against 437 or 393, while aggressive bear can try to short against 505 and 535.
LIVEEuroChartCreator
--
#BNBEUR rally exceeding 0.618 retracement off the July top and closing in 2.236 extension off the Aug low, #Elliottwave 5up(yellow) almost complete, or already further along as 1 of C(azure).
Any sizable correction should now hold 390 #EUR for the immediate bullish outlook, aggressive bull can also try 440 long stop while aggressive bear should watch 515 and 555 for short stop. $BNB #BNBAnalysis
Any sizable correction should now hold 390 #EUR for the immediate bullish outlook, aggressive bull can also try 440 long stop while aggressive bear should watch 515 and 555 for short stop. $BNB #BNBAnalysis
#BNBEUR rally exceeding 0.618 retracement off the July top and closing in 2.236 extension off the Aug low, #Elliottwave 5up(yellow) almost complete, or already further along as 1 of C(azure).
Any sizable correction should now hold 390 #EUR for the immediate bullish outlook, aggressive bull can also try 440 long stop while aggressive bear should watch 515 and 555 for short stop. $BNB #BNBAnalysis
Any sizable correction should now hold 390 #EUR for the immediate bullish outlook, aggressive bull can also try 440 long stop while aggressive bear should watch 515 and 555 for short stop. $BNB #BNBAnalysis
LIVEEuroChartCreator
--
#BNBEUR looks 3 #Elliottwave off the low while one can certainly argue for 5 waves. The proof of the pudding is in holding 378 #EUR which can be the stop for aggressive long.
Stop of short taken from above should at least partially be moved down to 471/490/501, these are also potentially shortable levels.
Stop of short taken from above should at least partially be moved down to 471/490/501, these are also potentially shortable levels.
#BNBEUR is taking its time for consolidation, aggressive bears should have their stop down to 492/486 #EUR while bulls can have some limit orders ready between 440-455, with a defined stop at 437 for the #Elliottwave azure path. If $BNB rises above 492 #euro one can attempt a break-out trade. Larger degree support remains around 400 for the yellow path.
LIVEEuroChartCreator
--
#BNBEUR holding 450 #EUR will be immediately bullish for the azure path, but I much more prefer a deeper pullback into #Elliottwave yellow (ii) for cheaper $BNB
Either way bull can try to long against 437 or 393, while aggressive bear can try to short against 505 and 535.
Either way bull can try to long against 437 or 393, while aggressive bear can try to short against 505 and 535.
#BNBEUR reach 0.618 retracement of the Jun.'24 ATH, arguably an almost full #Elliottwave 5up as per yellow fibs suggested and the angle of ascent is flattening. In the short term 470 #EUR is a key signal for whether it strikes a temporary top.
While I'm still mindful of the risk of the pink fibs A=C, the relatively muted pullbacks along the rally off the Aug. low reminds us $BNB is still in a bullmarket overall, as long as that Aug. low holds, so the 420 region support becomes important for all timeframes now.
Also the weakening USD is positive for all dollar denominated assets, it will be interesting to see how crypto and #euro react relatively. #BNBAnalysis
While I'm still mindful of the risk of the pink fibs A=C, the relatively muted pullbacks along the rally off the Aug. low reminds us $BNB is still in a bullmarket overall, as long as that Aug. low holds, so the 420 region support becomes important for all timeframes now.
Also the weakening USD is positive for all dollar denominated assets, it will be interesting to see how crypto and #euro react relatively. #BNBAnalysis
LIVEEuroChartCreator
--
#BNBEUR is taking its time for consolidation, aggressive bears should have their stop down to 492/486 #EUR while bulls can have some limit orders ready between 440-455, with a defined stop at 437 for the #Elliottwave azure path. If $BNB rises above 492 #euro one can attempt a break-out trade. Larger degree support remains around 400 for the yellow path.
#BNBEUR dips into lower end support, while I certainly can make case for Ending Diagonal in #Elliottwave term, 504 #EUR remains the proof of the pudding. Aggressive trader can use 522 as long stop and 536 as short stop. I'm now favor net movement to the upside for the next few days, a micro lower low first not withstanding. #BNBAnalysis
LIVEEuroChartCreator
--
BNBEUR still below 580 cluster
$BNB got the expected lower low and the subsequent bounce is corrective so far. The #BNBHODLer activity gave a boost from the 536.8 #EUR low but note the rally off the 550 low seems to be 3 waves in #Elliottwave term. If that low holds, measured move to the upside only target 579.1, around the important 580 level for #BNBEUR
Weekly view: look for 420 if under 510, without invalidating the longterm bull case; aggressive long should already have a stop under 540 though.
Bonus: those interested in the potential outperformance of BNBvsSOL should pay close attention to the 0.20-0.16 region of SOLBNB, and I would not want to see it drop under 0.13:
#BNBAnalysis
Weekly view: look for 420 if under 510, without invalidating the longterm bull case; aggressive long should already have a stop under 540 though.
Bonus: those interested in the potential outperformance of BNBvsSOL should pay close attention to the 0.20-0.16 region of SOLBNB, and I would not want to see it drop under 0.13:
#BNBAnalysis