Date of analysis: 03.06.2025
Time frame: 1D / 1W
Introduction: Where is the Binance token headed?
BNB, the native token of the world's largest cryptocurrency exchange Binance, is always under close scrutiny from investors and traders. Its dynamics often reflect the overall state of the market. Today, we will conduct a deep Elliott wave analysis to understand the current position of BNB and determine what opportunities this opens up in the near future.
BNB in the 'Big Picture': Completion of the Bull Cycle?
On the global time frame (1W), BNBUSD is still within a bullish cycle, completing its fifth wave of growth. As shown in the screenshot below, this five-wave structure indicates the maturity of the current upward trend. After the completion of the five-wave impulse, a significant correction usually follows.
Detailed Look: 5th Wave as Ending Diagonal
Upon closer inspection on the 1D time frame, it becomes clear that the current 5th wave of growth is forming as an ending diagonal. This is an extremely important pattern that often heralds the end of a trend and a subsequent sharp change in direction.
My count shows that the proportions in this ending diagonal are observed:
Wave 3 is 0.786 of the length of wave 1.
Wave 4 is 0.786 of the length of wave 2.
This confirms the validity of the current wave count. I expect the formation of the last, fifth wave of the ending diagonal.
Key Levels and Trading Plan: Waiting for the Ideal Short Entry Point
Based on the analysis, the most likely completion of this 5th wave of the ending diagonal is expected at the level of 0.786 of the length of wave 3, which corresponds to a mark of around $815.
Current situation and risk:At this moment, opening long positions on BNB is extremely risky. The risk/reward ratio is 0 to 89, making such a trade unprofitable. Active holders of BNB should consider taking profits at current levels, as the potential for growth is limited and the risk of a subsequent correction is high.
Strategy for the future: My recommendation is to wait until the price of BNB reaches the level of $815. After this level is reached, it is essential to closely monitor the price reaction and the formation of reversal patterns. This is where the most advantageous entry point for opening a short position with an excellent risk/reward ratio will be found.
Conclusion: BNB on the brink of a significant decision
BNB is in the final stage of its bullish cycle, forming an ending diagonal. This signals a possible imminent end to the growth and the start of a deep correction. My strategy is to not rush, wait for the culmination of the 5th wave around $815, and only after that look for confirmation to open a short position. Be cautious with longs at current levels!
🔥 Now it's your turn!
What do you think about the future of BNB? Do you agree with my wave analysis, or do you see a different scenario?
Share your opinion in the comments! Your feedback is very valuable!
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Disclaimer: This review is purely analytical and does not constitute financial advice. All trading decisions are made by the trader independently and under their full responsibility.
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