Binance Coin (BNBBTC) has reached a potential bounce/reversal zone, here is why... Make sure to hit like to continue reading...
We can see BNB printing a strong green candle and now we look at the different signals that support this move as a potential reversal zone:
We can spot strong bullish divergence on the MACD.
We can notice increasing volume and a challenge of EMA10 on the bounce.
A strong bullish engulfing candlestick pattern is also in play.
RSI hits oversold and bounces with strength. It hit Dec. 2018 levels, its lowest ever (check chart below).
Binance altcoins maintaining their last low and producing big gains; Altcoins market early warning signals for smart traders.
Bullish engulfing: RSI Oversold:
Market feeling Binance Coin (BNBBTC) can easily bounce here to continue moving lower or completely change trend. This analysis is strictly for the next move. After the next move, a new analysis can help us identify the potential scenarios that come next...
What's your take on the altcoins market making a strong comeback in less than 2 months?
What's your opinion on this chart and Binance Coin?
Share your thoughts on the comments section below.
Remember to like, follow, comment, and meditate...
@CryptoFrank23, Looks like it's time to buy more BNB. I don't think Binance will let JEX fail. So it could be a similar success story as Binance and BitMex. That means the tokens will be worth a lot in future. That means you buy BNB now and HODL if you want a piece of that pie.
Unfortunately starting Sept 12th us USA resident traders will not be able to trade on Binance, (& it's BNB coin). However, I recently have been looking for other exchanges (that are ok for USA and trust-worthyish) to move over to that have plenty of same Alts, & others.
I found Kucoin Exchange looks good has BNB coin (BNBBTC & BNBUSDT)!!
something to think about...
AlanSantana
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@Trader-HP, Thanks. Bittrex also has many options.
MinerChad
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@alanmasters, yes,I have Bittrex for long time now, but they also have recently taken away access to many alt coins (to my surprise also, now only 30 alts available) (due to same USA SEC 'rules' now being enforced buy USA Government.. I tried to buy some PTONBTC, and was not able due to lock out from my country.
ridertiger
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Me and my friends bought some BNB and we were on the verge of losing our hope for the coin. Maybe we will get our hopes up again :)
AlanSantana
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@ridertiger, Think of it long-term, Binance and its coin (BNB) are surely on the right track. This is a very strong company and altcoin project.
Namaste.
StickShiftSam
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Alan, there is a very good reason why the word 'master' is in your handle. You sir, are a master.