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CryptoTeethow
Apr 20, 2019 7:36 PM

BNB/USDT Analysis, 04/20/2019 Short

Binance Coin / TetherUSBinance

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BNB/USDT update, 04/20/2019

Because of the current configuration, I believe that we might correct a bit. We aimed for the ATH and managed to get through with a a higher high, however we quickly got rejected.

Currently, we are stagnating between -0.786 and the cluster -0.618 -0.65, above an area that may have become a support.

As for the candle, it varies between green & red in shooting star, it goes without saying that a close red would be an indication of an imminent correction.

Especially since the indicators are all in an overbought zone, and although the RSI no longer forms a bearish divergence, it remains very bearish.

To conclude I would say that if you own BNB and the daily were to close red, it would be wise to sell them in order to buy them back lower, on the $20 or even $17.5.
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