TheTravel1ngTrader
Long

BNB's Path to $50 in 2019

BINANCE:BNBUSDT   Binance Coin / TetherUS
We started scaling into BNB/USDT back in December 2018 after hitting a swing low of $4.50 - the same support level we saw in December 2017. Once it broke the 50-day MA it never looked back. BNB has been on an uptrend since then gaining 677%!

In May of this year we saw a 19% correction on BNB, which formed a textbook bull flag with the classic downward slant. We have since broke out of that bull flag to the upside. Based on previous Fib extensions, BNB is due for a $50 target price...most likely by 2019 if the current trend maintains its violent nature. Throw in some important fundamentals such as the introduction of a stable coin, along with margin trading and you can see why this exchange coin can easily hit that target this year.

The OBV is one of the most impressive out of all of the top altcoins. It has maintained a steady positive uptrend without any blips or interruptions in the volume flow.

Comments

Thanks Z ...
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Nice set up, hopefully BNB will reach that $46 target, which is the flag pole projection
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