Technical Analysis

BNBUSD Update: Binance Coin Is Ready For Bull RunApr 5, 2023

Binance Coin is ready for bull run, as we see it forming bullish setup formation of different degrees by Elliott wave theory.

Binance Coin with ticker BNBUSD is actually moving nicely as expected and we want to share an update since the beginning of March, when we noticed nice and clean A-B-C correction within higher degree wave (2).

BNBUSD Update: Binance Coin Is Ready For Bull Run 4h flashback chart
BNBUSD 4H Flashback Chart

After we spotted a higher degree A-B-C correction in wave (2) and nice bounce from projected support support zone, we can now see it forming a new lower degree bullish setup formation that can shoot the price into wave 3 of (3) of a five-wave bullish cycle of different degrees.

BNBUSD Update: Binance Coin Is Ready For Bull Run 4h updated chart
BNBUSD 4H Updated Chart

BNBUSD actually spiked down right into projected 300 psychological support level within a complex w-x-y corrective pullback in wave 2. So, watch our for further rally within the steepest wave 3 of (3) soon, especially if breaks back above 330 bullish confirmation level.

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