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 $26 in the very near future.
Recent Fundamental News that Supports this idea:
Hyped News on bullish breakout
Binance Coin Burn - Eliminates the amount of coins in circulation DEMAND GOES UP CAUSING MORE BULLISH INTENT
BNB CHAIN is still in testing but the tweets by CZ are causing some awareness! Binance DEX is still in the testnet mode as well but is coming soon.
SL: 16.00 - 17.00
Entry: Now around 20$
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
TP: $28 - 30$ if 26 has already been touched twice.