Binance Coin has seen a significant drop in price(usd) since the June'2019, and has tested a preliminary support.
Daily and higher time frame is still in bullish structure with strong fundamentals from BInance Exchange and founder.This price drop can be seen a retracement before surging up.However if there are certain Hurdles or Resistance(Red lines) to cross to confirm Bullish bais.
It can retrace back to Red lines before testing other lines of Support(green lines) as you can see on the chart.
Breaking last line of support around 8 USD will be strongly bearish for the coin in the coming days.
Daily and higher time frame is still in bullish structure with strong fundamentals from BInance Exchange and founder.This price drop can be seen a retracement before surging up.However if there are certain Hurdles or Resistance(Red lines) to cross to confirm Bullish bais.
It can retrace back to Red lines before testing other lines of Support(green lines) as you can see on the chart.
Breaking last line of support around 8 USD will be strongly bearish for the coin in the coming days.
Trade closed: target reached