Current structure witnessed a brutal selloff of over 50% of BNB's top value in less than 24 hours. It seems safe to say wave 4 is in progress...although that could be construed as mere panic selling. nevertheless, technical damage has been done.
Wave 3 almost made it to the 2.618 fib extension but failed to reach it.
The chart above has fib extension levels from wave 3 to the likely wave 5 scenarios.
I am leaning towards an extended wave 5 due to the likelihood that Binance is the largest and most popular exchange in 3 months time. If they are on track for $1 billion in profits...let's just say that we could easily see double digit fib extension levels once the masses are all trying to by $500 worth to lessen their trading fees.
I am also leaning towards the possibility that wave 4 is short.
BNB is a must buy if BTC crashes to 8k and 5k, the dump will likely be enough to reset enough of the indicators on BNB that we may be ready for wave 5 much faster than anyone anticipated.
IN WAVE 1/2:
We hit the .786 retracement
In Wave 3/4
arrows provide probably targets for .5, .618, and .786 retracements
Wave 3 almost made it to the 2.618 fib extension but failed to reach it.
The chart above has fib extension levels from wave 3 to the likely wave 5 scenarios.
I am leaning towards an extended wave 5 due to the likelihood that Binance is the largest and most popular exchange in 3 months time. If they are on track for $1 billion in profits...let's just say that we could easily see double digit fib extension levels once the masses are all trying to by $500 worth to lessen their trading fees.
I am also leaning towards the possibility that wave 4 is short.
BNB is a must buy if BTC crashes to 8k and 5k, the dump will likely be enough to reset enough of the indicators on BNB that we may be ready for wave 5 much faster than anyone anticipated.
IN WAVE 1/2:
We hit the .786 retracement
In Wave 3/4
arrows provide probably targets for .5, .618, and .786 retracements
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.