BINANCE (BNB/USD) - Significant upside potential expected
BINANCE (BNB/USD) - Technical Analysis
- Strategic Horizon (6 to 12 Month) => Significant upside potential expected towards 2250
- Tactical Horizon (1 to 3 weeks) => Holding above 510 key support a larger rise to 830 is expected before challenging 1050
KEY ELEMENTS TO WATCH:
- MM 34 is support at 510
- RSI is progressing within a bullish channel above 50%
- Elliot wave are providing 830 and 1050 as wave III target (follower momentum in progress) and 510 as key support.
Conclusion:
There is no sign of bullish trend disclocation at this step, even more all the indicator are showing a strong bullish momentum in coherence with the psychologie dynamic in place represented by the wave III configuration.
On the very short-term 710 is capping the trading range in progress (3H chart basis), a last down swing to 530/510 can't be ignored (perfect buy level) as long as 710 remains resistance.
However regarding the strong momentum it is tricky to play short on current level (only for day trader close to 710), better to buy and hold on a mid-long term basis to drive the ''centralised exchange'' thematic of the portfolio.
- Strategic Horizon (6 to 12 Month) => Significant upside potential expected towards 2250
- Tactical Horizon (1 to 3 weeks) => Holding above 510 key support a larger rise to 830 is expected before challenging 1050
KEY ELEMENTS TO WATCH:
- MM 34 is support at 510
- RSI is progressing within a bullish channel above 50%
- Elliot wave are providing 830 and 1050 as wave III target (follower momentum in progress) and 510 as key support.
Conclusion:
There is no sign of bullish trend disclocation at this step, even more all the indicator are showing a strong bullish momentum in coherence with the psychologie dynamic in place represented by the wave III configuration.
On the very short-term 710 is capping the trading range in progress (3H chart basis), a last down swing to 530/510 can't be ignored (perfect buy level) as long as 710 remains resistance.
However regarding the strong momentum it is tricky to play short on current level (only for day trader close to 710), better to buy and hold on a mid-long term basis to drive the ''centralised exchange'' thematic of the portfolio.
Comment:
Update: (bullish picture still valid)
No daily close below 510 idea still valid
460 support (max excess in touch)
570 upside target for sshort-term player and level to surpassed to lower the downside risk
No daily close below 510 idea still valid
460 support (max excess in touch)
570 upside target for sshort-term player and level to surpassed to lower the downside risk
Trade closed: stop reached
CIO & Head of market research (Automata - Akt.io)
Up to 200 EUR AKTIO => Referal for AKT.IO app on Apple store and Google play =>
www.akt.io/app-referral/?referral=3e2e485b164fe488ed7761ca1c2374db6f41b691cbe03c728b108489f13a46fa
Up to 200 EUR AKTIO => Referal for AKT.IO app on Apple store and Google play =>
www.akt.io/app-referral/?referral=3e2e485b164fe488ed7761ca1c2374db6f41b691cbe03c728b108489f13a46fa
More over SOL, HBAR, BTC are reacting above key support.