BNB Looking bullish = Potential trend line?

Long

Binance Coin / TetherUS (BINANCE:BNBUSDT)

Updated

BINANCE:BNBUSDT Binance Coin / TetherUS

trendanalysis indicator waveanalysis

Seems like BNB have found support and is looking to get to the next level

Comment:

Note: The reason why I think the price will double all of a sudden is because of the upcoming March coin burn. If you take a look at the previous coin burns in October 2017 and January 2018. The priced increased by more than 100% so it might happen again.

Comment:

Looks like BNB might take a small correction to about $9.80 -$10.00 in the next hours

Comment:

If it breaks the trend line I'm thinking it will try to retest support at $7-7.50

Comment:

Seems like we are almost done with our correction and possibly heading back to $8.30 - 8.50

Comment:

Before we can get back to (close to $9) I think we will retest support one more time at $6.70- $7.00 by March 15... It all depends if we go above $8.50 in the next 5 days

Comment:

After Monday, I would wait for the 1 day candle to close on Wednesday and re-enter my position on Thursday after confirmation. It is possible to go down all the way to $5 if support breaks below $6.50 - 6.70

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