Soon we will have a new year and with that we will have a yearly close. In 2019, BNB/USD raised 225% from its minimum. Binance is the biggest and most reliable exchange in the world, and therefore, combined with a key insightful technical analysis, Binance Coin is our pick for 2020. Here we look at 2 timeframes: weekly and daily.
Weekly chart:
Below, you can find the daily chart for BNB/BTC.
Daily chart:
Brief Summary: Binance Coin could make one last push towards $11, but this should not come as a surprise nor be a danger for an experienced persona. Shall the good name of the company be kept safe, this is one of our top picks for the upcoming season.
Commodity Channel Index, Chaikin Money Flow, custom volatility indicators and Bollinger Bands and their derivatives were used in the technical analysis. This is not a financial advice and you agree to take 100% responsibility.
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Weekly chart:
- BNB lost around 63% of satoshi value since the top in April 2019.
- While we were experiencing downtrend, we entered the first standard deviation of the Weekly 50 Moving Average Bollinger Band (turquoise band), which then provided trading range for the compression. To this day, the upper and lower Bollinger Bands serve as relative high and low. The price is very likely to NEVER see $10 again, unless in an unforeseeable event, i.e. the company crashing, the exchange being hacked and so on.
- Chaikin Money Flow is bullish. The apparent bottom was hit in September 2019.
- This is a LONG-TERM outlook, and should be treated as such with regards to excessive volatility and risk management.
Below, you can find the daily chart for BNB/BTC.
Daily chart:
- The price has currently drawn a wide W shaped bottom. This is more confirmed by its second leg resting within the Daily 200 Moving Average Bollinger Band (purple band).
- BNB is on the cusp of entering the first standard deviation of the Daily 50 Moving Average Bollinger Band (turquoise band) which serves as a mid-term price movement indication.
- Volatility on almost all lengths has evaporated enough for a bigger movement to occur.
Brief Summary: Binance Coin could make one last push towards $11, but this should not come as a surprise nor be a danger for an experienced persona. Shall the good name of the company be kept safe, this is one of our top picks for the upcoming season.
Commodity Channel Index, Chaikin Money Flow, custom volatility indicators and Bollinger Bands and their derivatives were used in the technical analysis. This is not a financial advice and you agree to take 100% responsibility.
Follow @UnknownUnicorn6031161 for more insights! Also make sure to visit our...
Facebook: https://www.facebook.com/meowsignals/
Website: (coming soon)
