#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%.
LIVE--
Bullish
LIVEEuroChartCreator
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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.
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BNB
624
+4.58%
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