BNB on a tight spot

BNB´s big drop in May was clearly an impulsive move, so everything from that point on was corrective (in my primary scenario).

Wave B could have finished in November at 669.3.

We could have a running flat, which would require wave C to go down to at least 386.5 (61.8% pullback).

Nevertheless, we have VERY strong support at 500, and a down channel (black) that has been containing price action for the last 6 weeks.

I´d wait for a break above the channel in order to buy BNB.