Monthly Analysis: Binance - This is the bottom.
A buy signal cannot be more obvious than this.
- Connect the Low to the High of the 22 month bullish wave.
- The 20 month bearish wave just ended in the perfect convergence
of Candlesticks and Western Technicals to give a buy signal.
- A Hammer candlestick signal creates horizontal support at the low
of the pattern at 0.00102. Not only did this occur on the low of the
Bollinger Band, signaling that the asset is oversold, but it also occurred
exactly at the 78.6% retracement of the up-wave.
- Remarkably, there is a convergence of strong Western Technical sell signals.
The high of the Bollinger Band lines up with the Tom DeMark TDST resistance line.
- Assuming an uninterrupted DeMark bullish wave, I see this asset being bullish
until approximately October/November of this year.
Technical Analysis of Bitcoin appears to be quite the inverse of this. Whether
or not you believe that Bitcoin will go higher or lower, confidence in the stability
and security of the reputable Binance exchange makes buying the Binance token
BNB an easy long.
- Connect the Low to the High of the 22 month bullish wave.
- The 20 month bearish wave just ended in the perfect convergence
of Candlesticks and Western Technicals to give a buy signal.
- A Hammer candlestick signal creates horizontal support at the low
of the pattern at 0.00102. Not only did this occur on the low of the
Bollinger Band, signaling that the asset is oversold, but it also occurred
exactly at the 78.6% retracement of the up-wave.
- Remarkably, there is a convergence of strong Western Technical sell signals.
The high of the Bollinger Band lines up with the Tom DeMark TDST resistance line.
- Assuming an uninterrupted DeMark bullish wave, I see this asset being bullish
until approximately October/November of this year.
Technical Analysis of Bitcoin appears to be quite the inverse of this. Whether
or not you believe that Bitcoin will go higher or lower, confidence in the stability
and security of the reputable Binance exchange makes buying the Binance token
BNB an easy long.
Comment:
Weekly Perspective:
Comment:
Daily Perspective:
Comment:
There is evidence to suggest that a significant pullback can occur at this level. Price is at the 50% waypoint to the first profit target and has just met Pivots (P) and SMA 20/50 resistance. I would look at one of two conditions to enter: Either price falls and finds support near 0.628/0.786, or there is a Weekly close above P.
I think there's a higher probability that price will pull back to 0.618/0.786 Fib before moving higher.
Note that "before moving higher" does not mean "before moving higher right away." There may be some time before price attempts to overcome P and I'll be looking for a Weekly close above P to feel confident that R1 is the next immediate destination. Regarding a close above P: I would be looking to Daily closes above P to consider a new entry.
I think there's a higher probability that price will pull back to 0.618/0.786 Fib before moving higher.
Note that "before moving higher" does not mean "before moving higher right away." There may be some time before price attempts to overcome P and I'll be looking for a Weekly close above P to feel confident that R1 is the next immediate destination. Regarding a close above P: I would be looking to Daily closes above P to consider a new entry.
Comment:
BNBBTC 4H - Swing Trade Long
Comment:
Comment:
4H - Swing Trade Targets
T1: 0.0018832
T2: 0.0020220
T3: 0.0022466
T1: 0.0018832
T2: 0.0020220
T3: 0.0022466
Trade closed: target reached:
+168% Target 3 Hit. So nice. :)
