Right now we see that Bitcoin might have peaked and at the same time we see a on Binance Coin ( BNBBTC ), a bounce can happen here.
Here are the two main scenarios I am looking at:
- 1) Bitcoin drops and Binance Coin (BNB) moves up, following the green arrow. A close above EMA10 would support this view.
- 2) Bitcoin goes sideways or moves up, Binance Coin continues going lower and test 0.148 Fib. level of the chart above.
My view: I believe we will go with the first scenario, based on the analysis described here:
Enjoyed this post? Feel free to hit like.
Thanks a lot for the support.
This is Alan Masters.