📌 Technical, wave, time, and classic analysis of BNX/USDT
📊 1. Technical Analysis: General Trend and Key Levels
📌 General trend
• Current price: 1.2216 USDT
• Last bottom: 0.1334 USDT
• Recent high: 6.0000 USDT
• Moving averages:
• EMA(7) = 0.7018 → Price is above it, indicating strong bullish momentum.
• EMA(25) = 0.6760 → Price is far from it, which supports the uptrend.
• EMA(99) = 0.6044 → The long-term trend has started to turn bullish.
📌 Technical indicators
• RSI(6) = 80.99 → Overbought, which may lead to an imminent correction.
• RSI(12) = 66.48 → still in positive territory.
• RSI(24) = 57.97 → The overall trend is still strong, but may see a correction soon.
• MACD = 0.0731 → Positive, but needs further confirmation of continued bullish momentum.
• Stoch RSI = 100.00 → Strong overbought, indicating a possible imminent correction.
• Williams %R = -9.30 → In extreme overbought condition, increasing the probability of a correction.
✔ Interpretation:
• The trend is currently up, but the RSI and Stoch RSI are in overbought areas, which increases the possibility of an imminent correction.
• MACD is still positive, but not strong enough to support a continued uptrend without correction.
📉 2. Wave Analysis (Elliott Waves)
• The price started an upward impulse wave (1-5) after the bottom of 0.1334 USDT.
• The price may now be at the end of the third wave, which means we may see a correction before the fifth upward wave resumes.
📌 Possible scenarios for the next wave
✔ If the price holds above 1.10 USDT, we may see a continued uptrend towards 1.50-2.00 USDT.
✖ If the price breaks 1.10 USDT, a correction towards 0.90-0.80 USDT may start.
⏳ 3. Time analysis: When might the next move occur?
• The price has risen very quickly over the past few days, indicating an unsustainable move in the short term.
• Based on the time patterns, we may see a correction in the next 24-48 hours due to the price reaching overbought areas.
✔ If the price stays above 1.10 USDT, it may continue to rise directly.
✖ If this level is broken, we may see a correction towards 0.90-0.80 USDT in the coming days.
📈 4. Classical Analysis: Support and Resistance Patterns
1. Support 1: 1.10 USDT → If broken, we may see a deeper correction.
2. Support 2: 0.90 USDT → Strong area if correction continues.
3. First resistance: 1.50 USDT → Important psychological level for the rise.
4. Second resistance: 2.00 USDT → If broken, the price may return to 6.00 USDT in the long term.
✔ If the price breaks 1.50 USDT, we may see a new bullish wave.
✖ If it breaks 1.10 USDT, a correction towards 0.90 USDT or lower may start.
🎯 Possible strategies based on technical, wave, time, and classical analysis
✅ Buy entry strategy (if the upward momentum continues)
1. Buy entry on any bounce above 1.10 USDT.
2. First target at 1.50 USDT.
3. Second target at 2.00 USDT if momentum continues.
4. Stop loss at 1.05 USDT.
❌ Strategy for entering a sell trade (if the correction begins)
1. Sell entry when 1.10 USDT is broken.
2. First target at 0.90 USDT (strong support).
3. Second target at 0.80 USDT (if the decline continues).
4. Stop loss at 1.20 USDT.
📌 Final conclusion: Is there a compatibility between technical, wave, time, and classical analysis?
✔ Yes, the general trend is up, but there are signs of a possible imminent correction due to the RSI and Stoch RSI reaching overbought areas.
✔ If the price continues above 1.10 USDT, it may continue to rise towards 1.50-2.00 USDT.
✔ If it breaks 1.10 USDT, we may see a correction to 0.90-0.80 USDT in the coming days.
📌 🚀 Final decision:
• If the price continues its upward momentum, entering a buy trade would be ideal.
• If reversal signals appear or 1.10 USDT is broken, it might be better to wait for a correction before re-entering!
