Swing trade about to happen on CZcoin BNBUSDT
Updated
BNBUSDT is about to finish the 5th wave of a contracting ending diagonal. 12% drawdown can be expected as illustrated on this 1D chart. Price action on intraday below volume POC.
According to my wave count, BNBUSDT is likely to be enter in a 5-wave swing-downward correction to made a lower low amid 160 USDT price @ least extending down 1.618 from the ABCD reciprocal harmonic pattern displayed.
In a Wickoff method perspective, the price tends to enter in a SOW phase, breaking-down this triangle structure, but a rally of relief can be expected as a potential growth of BTCUSDT for the next month open.
Oscillators:
*Fisher Transform;
*ESCGO_LZ (smoothed stochastic);
*Chaikin Money Flow.
This strategy was published for an educational study of the cycles of BNBUSDT market. You can see more of my progression on this short position by my previous posts.
According to my wave count, BNBUSDT is likely to be enter in a 5-wave swing-downward correction to made a lower low amid 160 USDT price @ least extending down 1.618 from the ABCD reciprocal harmonic pattern displayed.
In a Wickoff method perspective, the price tends to enter in a SOW phase, breaking-down this triangle structure, but a rally of relief can be expected as a potential growth of BTCUSDT for the next month open.
Oscillators:
*Fisher Transform;
*ESCGO_LZ (smoothed stochastic);
*Chaikin Money Flow.
This strategy was published for an educational study of the cycles of BNBUSDT market. You can see more of my progression on this short position by my previous posts.
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