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Technical analysis by NewThoughtCrypto about Symbol BNB on 8/19/2024

https://sahmeto.com/message/3304098
NewThoughtCrypto
NewThoughtCrypto
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The AB=CD pattern is a four-point price harmonic, which involves a partial retracement of the initial price segment, followed by an equidistant move from the completion of the pullback. Not every impulse and retracement form an ABCD Pattern. I use it under two conditions:1. AB is an Impulsive move. 2. Sharp retracement up followed by a sharp move down. Use a trendline as a guide. ABCD Targets:1. A shallow continuation follows a deep retracement and vice versa. For example, if BNB retraces in C to 70% of AB, the D point is expected at 1.414. If it retraces to the 0.618 of AB, the D point is expected at 1.618. Your default should be the 1:1 extension. BNB is creating a nice ABCD With a target of 350$. Invalidation: Price > 544$

Translated from: English
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Signal Type: Neutral
Time Frame:
1 day
Price at Publish Time:
$536.52
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