Binance Coin - BNB - Projection - Elliott Wave
In this count, BNB finished its 1st wave at the .618 retrace of the major 2 that bottomed in December 2018. Red alternative ending at the .786 is also presented which would see a pullback ideally do the $15 region.
In the primary count, we're either looking for a bottom in the triangle with a high B-wave, or we've already started up to circle-3 as a leading diagonal.
I don't particularlly like the shallow ii, so I wouldn't be surprised if we see the red count here.
If you target either of these trades, the stop will be the red line. If you target circle-2, you'll buy as close down to the red line (deep into the triangle) as possible, with a stop at the red line. If we pass that red line, the red count will become primary and we'll buy as deep into the blue box as possible.
In the primary count, we're either looking for a bottom in the triangle with a high B-wave, or we've already started up to circle-3 as a leading diagonal.
I don't particularlly like the shallow ii, so I wouldn't be surprised if we see the red count here.
If you target either of these trades, the stop will be the red line. If you target circle-2, you'll buy as close down to the red line (deep into the triangle) as possible, with a stop at the red line. If we pass that red line, the red count will become primary and we'll buy as deep into the blue box as possible.
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