Binance Coin vs Bitcoin | Multiple Timeframes

BINANCE:BNBBTC   Binance Coin / Bitcoin
Let's get straight to it and start by looking at the daily timeframe for Binance Coin vs Bitcoin , this is the main chart above.

  • Here we can see a strong reversal candle (circled in light blue) and also a cup pattern, this can result in mainly two scenarios...
  • BNBBTC goes straight up if prices can conquer EMA50 (0.002309) today.
  • Prices can also print a small drop before moving up, this would complete the classic cup & handle pattern.

Remember that charts are always changing, so a bullish chart today can become bearish tomorrow... Always have a plan before you decide to trade... Let's continue!

Here we have the weekly chart for Binance Coin ( BNBBTC )

After a new low was hit, BNBBTC bounced and prices are currently trading above EMA100, weekly candle closes today for signal confirmation.

Resistance is now being met at EMA10 (0.0020477), this is a very important level.
  • Conquering EMA10 can lead to a 55% jump, easily.
  • But if prices for BNBBTC retrace and close below EMA100 (0.0019604), we will test the lower support (red arrow).

Additional information can be found on the chart.

Thanks a lot for reading.

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