garrettlweems
Short

BNB / BTC Binance Coin Double Top

BINANCE:BNBBTC   Binance Coin / Bitcoin
BNB / BTC is one of the few crypto currencies that is actually in an uptrend right now but looks like things are about to change.

Few reasons why I am entering a short.

  • Unable to close about newfound resistance of 25700 satoshis left us with a bearish double-top on the daily chart .
  • The MACD is overdue for a bearish crossover.
  • RSI oversold and trend line broken.
  • The entire market is unfortunately still bearish and these things seems to move together.


It will be interesting to see where this next candle closes. I'm wondering if my minor grey trend line will hold but regardless I am bearish on Binance Coin short term but very bullish long term.

Let me know what you think,
Thanks.

Comments

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