BNB | Good for Traders, Bad for Investors
On the First look we see awesome condition for a Growth! But let’s take a look carefully at this coin.
First – we see a “falling wedge” as you know this is a very good pattern which gives us a hope that this coin will Grow.
Second – I used an Aroon oscillator to see the strength of the trend on current period and as we see the current trend is very week, because both “Aroon Up” and “Aroon Down” were floating on the high and low borders.
Now some bad news:
There are some factors that tells us about the opposite
1-Volumes comparing to the last period are low.
2-BTC dropped in price on $400-450 on the current (the last time I see a pattern – If btc is down, the majority of alts is down).
Conclusion: based on this information I wound not invest in this coin at the nearest time, but We can try to sell short.
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Remember this analysis is not a 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advice.
First – we see a “falling wedge” as you know this is a very good pattern which gives us a hope that this coin will Grow.
Second – I used an Aroon oscillator to see the strength of the trend on current period and as we see the current trend is very week, because both “Aroon Up” and “Aroon Down” were floating on the high and low borders.
Now some bad news:
There are some factors that tells us about the opposite
1-Volumes comparing to the last period are low.
2-BTC dropped in price on $400-450 on the current (the last time I see a pattern – If btc is down, the majority of alts is down).
Conclusion: based on this information I wound not invest in this coin at the nearest time, but We can try to sell short.
Please hit the like button, in case you like this idea and subscribe to the Channel in order not to miss new ideas and signals.
Remember this analysis is not a 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advice.
Comment:
Now it seems to me that I was wrong about my final opinion. Will see