Binance (BNBUSDT) has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, Binance began a wave one advance on December 30, 2017. The red wave one finished on December 31, 2017, and the red wave two correction ended on January 1 this year. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on January 6, and the red wave four (blue sub-waves a-b-c) correction ended on January 11. If this wave count is correct, Binance should be heading next towards the January 6 peak in the red wave five.
(Chart courtesy of Tradingview.com (log scale))
Looking at the daily chart, I believe Binance is currently in the red wave three (blue sub-wave i). The red wave three began on December 30, 2017.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Binance is a cryptocurrency exchange. Here is a 7 minute review of the exchange by Austin's Crypto Playhouse published on January 10.
(Sources: https://www.binance.com/ and YouTube)
If you think this analysis is correct, upvote this post and upvote the comment "Binance will takeout the January 6 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Binance will drop below the January 1 low".
If you think Binance is in a range, upvote this post and upvote the comment "Binance will stay in a trading range between the January 1 low and the January 6 peak until February 11".
You can upvote the comment until 5:40 AM EST January 12 and you can upvote only one comment. 50% of SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).
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