BNB/BTC has one more leg Down ? Binance Token wave 5 coming ?

14 Mei 2019

This is an update to my BNB analysis after the top.
Looks to be in a wave 4, possibly starting wave 5.
This could possibly be just A of an ABC (unlikely).

The dark blue path is what I think is most likely.
The light blue path is a more bullish possibility.
Also possible that we reverse as is (unlikely).

See my Top call below, after which it has been drooping.
After retrace had started, the news about Hack came out.
Then we had the 1-week shut down for upgrades/investigation.

Now we look for possible ''Bottoming'' zones.
I have much confidence in Binance and CZ.
So I am in bullish, looking to fill my bags again.

My Previous Analysis:

Top Call

Early Retrace plot

Update Retrace after Hack

15 Mei 2019

Catatan

Got a good bounce today now I am not so confident we will see a lower low. But wave 4's are often choppy and range bound before the final wave 5 kicks in. If it breaks above the resistance at 33k, retrace might be done. The ligher wave 4 optiion reaching up to 36k seems much less likely now, or at least going that high probably invalidates it as 4 of 5 yet to come, instead a reversal. Binance is in maintenance mode right now, so lets watch closely after they reopen. Not sure that the bounce was just before they shut down, but will be interesting to see what happens after.

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