foreign [Music] hello and welcome to another update video about BNB BNB is currently following through to the downside nicely a few days ago I posted it already on Discord and Telegram and our signals group that a top has probably been made here in the fourth wave and that BNB is likely to head down now in the fifth wave that so far has been correct the correct assumption and against this swing High oops let me just move that back against the swing High which was made here on the 15th of May at 316 we can now focus on low air Focus further on lower the five wave move is likely to unfold here or the wave 5 is likely to unfold as a five wave move the reason is that we can count the move down as an Impulse it avoided very nicely in overlap with wave one you know that Wave 4 here avoided an overlap with wave one so we can continue to count it as an Impulse to the downside I'm looking at the wave 5 here also as a one two possibly the third wave could follow now then a fourth yeah and the fifth um price would need to confirm though that we really are in this fifth wave but for now we can assume it and Confirmation will be obtained as soon as we break below that wave 5 low at 301 um looking at possible targets I think the 297 dollar level is quite likely um doesn't need to go necessarily any lower but obviously it could be it can use the entire yellow box important is that it's holding the 283 dollar level as long as we hold 283 we can overall Focus here on higher in an overall uptrend yeah this is purely a correction A C wave of a wave 2 which should result in a third wave rally to 400 and more um looking at a possible Target just again let's just take another look we take the length of the a wave go to the high of the B wave very first Target was here around 308 309 that was broken next Target is at 286 which is the 1.618 extension which is within the yellow box so no risk there um another way of measuring Target for the fifth wave is to take the length of the wave one then we go to the high of the way forward to compare with the fifth wave and that would also take us roughly into that area down there 289 dollars so they suggest currently a little lower and we can also take the waves one through three go to the high of the four and we look for the 61.8 extension that also points towards that sort of 290 level so rather between the golden ratio of 297 and the 78.6 flip level at 283 would be a likely a target range here to complete this fifth wave um and that count here is valid and likely as long as we stay below that last swing high of the 15th of May yeah at 316 dollars yeah let's map it about BNB I hope you like the update if you did please hit the like button leave a comment and subscribe and if you really like the content then please check out the channel membership thanks a lot for watching bye thank you foreign [Music]
