AKTIO/USDT : Buying area reached, bullish exit expected.

Brian Leclere - 08 June 2022 - AKTIO APP MARKET_MINDS MEDIUM_TERM

—- Mid-term Analysis for the next coming 4 weeks to 3 months – Daily on Daily Chart (LOG)——-


BNB/USDT: Buying area reached – Bullish wave expected

Context
The Global Crypto market leads by BTC and ETH is still evolving within a bearish market configuration. Like the others digital assets BNB is suffering about negative global market situation which should be ended once the crypto market gonna start the bullish reversal
However we are focus on a key buying area now on this coin and we expecting further range and a recovery regarding the wave swing configuration of the trading range

Market configuration

– Graphical Elements :
Graphical Resistance = 438
Graphical Support = 220 & 690

– Mathematical Indicators:
EMA ( Exp Moving averages) are capping the market = Bearish
RSI indicator (below) is bouncing off key support but still below 50% = Neutral

– Elliot & Harmonic Wave (Fibonacci):
Fibonacci Target (c) has been already reached = 220
Fibonacci resistance of the wave in progress = 438
Fibonacci support of the wave (c)(max extension) = 150
Fibonacci Bullish Target = 690 (auto-similar move)
Fibonacci Bearish Target = 67 (50%)

Conclusion

Preferred case => Regarding the mid-term element, BNB could built a direct bullish move towards 438 and 690 as long as 150 remains support – as long as the EMA remains resistance a last down leg to test the 150 area can’t be – It is more likely to expected a direct rise in this configuration.

Alternative case => Breaking 150 a significant drop will occur towards 67

(Price are displayed in USDT)

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