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#BNB hanging onto 20DMA with bearish divergences #bnbbtc

BINANCE:BNBBTC   Binance Coin / Bitcoin
Bnb has fallen below the double top support level, however it is currently supported by the 20DMA at 2355

Yesterday we got a bullish candle around the 20DMA support -rejection from below 20DMA support with low volume indicating sellers are exhausted in the short term.

However RSI and Macd are showing bearish divergences.

Today if #bnb gives closing below the 2355 support region then we can expect a fall to below fib levels else if bnb breaks above 2500 then the next resistance level will be around the 3000 region.
Comment: #Bnb after breaking below the double top support is now 13% down and trading below the 50dma support, currently supported by historical support level 201k, bear cross of 10-200Ma in 6H if the support at 201k doesn't hold then the next level of support around 100Dma and 50fib of wave 3.
Comment: #BNB is consolidating inside a falling wedge, death cross of 10-30DMAs and break below the 50DMA support at 2131. Unless bnb breaks above the 50DMA level view is bearish for $BNB with a possible drop to the trendline support around 100DMA and 61.8fib i.e 1865-1900 region.

Comments

Thanks for your chart. What's your opinion about this?
Reply
100% agree with you
+1 Reply
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