BNB has been on an amazing run. I wish I wouldn't have sold so early but you can never be too careful in an unregulated market! BNB has been one of the best performing digital assets so far in 2019 with a run up from $6 to now being $6 away from Jan 2018 high of $26. Recent Fundamental news of BNB coin burn could easily push this price straight up to the top of the range in a matter of the next few days. Price has found support at $17.21 zone on the daily with a continued daily bullish momentum back above $20. It will be crucial to hold above this level now for price to continue on. I will be looking for a corrective structure before buying this pair but ultimately long term I am bullish on holding BNB. If price fails to break $20 a retest of Support level 1 or 2 will be in effect and a possible daily inverted head and shoulder formation is what I will be looking for. At this time there is no buy entry unless you wish to risk a buy from 20 to 26 right now with a tight Stop just below Support level 1 $17.21 overall I believe we are heading to $26 in the very near future.
Recent Fundamental News that Supports this idea:
Hyped News on bullish breakout
nulltx.com/binance-c...ew-bullish-breakout/
Binance Coin Burn - Eliminates the amount of coins in circulation DEMAND GOES UP CAUSING MORE BULLISH INTENT
ambcrypto.com/binanc...nce-coin-bnb-tokens/
BNB CHAIN is still in testing but the tweets by CZ are causing some awareness! Binance DEX is still in the testnet mode as well but is coming soon.
cryptonews.com/news/...s-updated-1-3710.htm
RISKY BUY
SL: 16.00 - 17.00
Entry: Now around 20$
TP: $26
BUY LIMIT Future prices range grab (I would set an alarm for prices in this zone before buying then watch price to see how it reacts).
ENTRY: 14.30 risk reward around 1:2
ENTRY 2: 11.50 RR around 1:2;7
ENTRY 3: 10.00 RR 1:3 peaking $30 spike
SL: 5.00
TP: $28 - 30$ if 26 has already been touched twice.
Recent Fundamental News that Supports this idea:
Hyped News on bullish breakout
nulltx.com/binance-c...ew-bullish-breakout/
Binance Coin Burn - Eliminates the amount of coins in circulation DEMAND GOES UP CAUSING MORE BULLISH INTENT
ambcrypto.com/binanc...nce-coin-bnb-tokens/
BNB CHAIN is still in testing but the tweets by CZ are causing some awareness! Binance DEX is still in the testnet mode as well but is coming soon.
cryptonews.com/news/...s-updated-1-3710.htm
RISKY BUY
SL: 16.00 - 17.00
Entry: Now around 20$
TP: $26
BUY LIMIT Future prices range grab (I would set an alarm for prices in this zone before buying then watch price to see how it reacts).
ENTRY: 14.30 risk reward around 1:2
ENTRY 2: 11.50 RR around 1:2;7
ENTRY 3: 10.00 RR 1:3 peaking $30 spike
SL: 5.00
TP: $28 - 30$ if 26 has already been touched twice.
Comment:
$26 has been achieved