BNBUSDT ABC CORRECTION FOR SHORT SETUP
Binance Coin / TetherUS BINANCE:BNBUSDT
Market finished 1-5 Elliot wave in the uptrend and ABC correction and full 1-5 wave bearish , in the moment we are waiting for ABC correction completion of an bearish 1-5 Elliot wave , we are forecasting that market will switch direction at 522 zone, which is in between 50% and 61.8% (Reversal) fib zone. also in this zone we can see a heavy institutional volume candle in 1h time frame.
Price history: In a past market also did a full Elliot wave up and down, and in its correction retraced to the 522 zone on it’s C wave of a correction and went down to 361 zone.
Entry: 522
Invalidation: 556
Target: 361
R/R Ratio: 4.74
