BINANCE:BNBUSD   Binance Coin / US Dollar (calculated by TradingView)
It's starting to look like the short term momentum of BNB is decreasing past week. The position of the wedge is very good, but it's shape is not great, also the volume isn't great for a wedge . Problem with BNB is, you can not short it, so the BNB market is not really in balance, making it's TA sometimes different than others.

This wedge , it's support could still break and create a drop , but it could easily find support at one of those 2 green support zones, instead of dropping to it's target in the orange zone. The first green could easily break, but the second one won't be that easy i think. If break this wedge with sideways price action and keep doing it for like a day or so, than you can assume the wedge is invalid.



Previous analysis:

Comment: The wedge broke, after a retest it started to drop. There has been some acceleration down as we usually see with a wedge. But the volume is not high of this drop, which is not really confirming a wedge. Because of this, the second green can still hold.

We have a small triangle now on the right, if this one breaks down and we see volume increase, then the second green might break. We can also see the channel on the daily where the price is closing in on it's support line as well.
Also, to show you why volume is important, we can see another channel that broke 2 months ago, where you can see the selling volume was very low. So instead of dropping a wedge/flag was formed and we simply moved higher again.

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Bnb will go to minimum 300$,why?
My thinking ws, if bitconnect when to 400$ cauz of nothing, how far will Bnb go?
With that in mind, I entered Bnb when it was around 6-7 dollar..look what they have done so far.. Fund r safu and a lot of people trust that exchange.. Now, never say never..:)
Cheers
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I bougth BNB at $9.48 in February 2019. BNB to the moon, it's rally is never fading, it'll continue UP. Nobody will sell BNB. The fomo for BNB will NEVER stop, it will NEVER go under $30. Impossible now i guarentee it. BNB is like BTC 2017 EOY only it will never fall.
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I literally just posted on Reddit about this about an hour ago. I never even saw the giant ascending wedge lmao I just saw one on much smaller time frames. Oh boy, this could get bad lol. The king as always Botje.
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Shit, if it goes down, I'll probably buy a little more. This has such long term potential. It's effectively Ethereum with an exchange. They'll work out the kinks.

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@croset, not even slightly ethereum with an exchange. the binance dex is a fork of tendermint.
+2 Reply
croset dma90210
@dma90210, That's fine by me, I like what it currently is and what it may be able to do in the future. I'm hopeful.
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@croset, it has potential indeed. But this correction is tiny at first, even if the wedge plays out completely
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@croset, I bought at $9.48. I beat myself up about it everyday now that I was stupid to pass on BNB when it was at $5 and I had so many opportunities but kept saying to myself "i'll buy something else". $9.48 was a good entry but I could have entered much earlier. Now entering is too late. Anything above $20 is too late because unless you have big bucks like $1 Million to spent on BNB, you can't really make any good money in BNB.
+1 Reply
croset lamboluvr
@lamboluvr, I'm thinking of it more long-term. A lower entry is better than a higher entry, in general. BNB is definitely not my only bag, but I'm hopeful for it. Perhaps anything above $20 is too late for a major profit, as you've said. But, profit is profit. This whole market is young, we're still waiting for mass adoption. Wait until that happens. $200 may be the new $20. Maybe :) That's the hope anyway.
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I've seen too that this pattern is placed upper and upper. Have you seen that yet somewhere on a coin ? what does it mean ? It seems like a spring compressed at the beginning, and now, it's fully extended, but too much, before a pullback/readjustment
+1 Reply
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