Hello stemian
i will share my technical analyze about BNB/BTC
in the daily chart u can see, BNB still on bullish mode. the main indicator is Simple Moving Average (SMA) 50 and 100 in above of 200 SMA. Green line is 50, blue 100 , and red 200. so daily chart talked to us BNB/BTC in uptrend.
In a elliot wave analyze, the first pattern 1 to 5 waves has complete, and correction ABC complete its pattern to.
so the next elliot pattern is 1 to 5 pattern.
in the next elliot wave analyze, the pattern will finish second wave. You can see green zone (green box), it is near support. the near support has tested in 5 candle until it can continue bullish. so in my opinion it can be a good support to the next third elliot wave.
in the moving average show near support in green line. i think the price probably touch green line, but it must breakdown the green zone as strong support.
In a candlestick pattern, the reversal candlestick has complete. You can see the last candlestick, it is form hammer.
And the stoch RSI will be a Golden Cross
in my opinion, when BNB/BTC bounce up it will complete third wave in 1,618 fibonacci retracement level. if BNB/BTC follow the elliot wave pattern we will got 116.27 % profit.
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have a good day
Picture source : Tradingview.com
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