Possible local bottom for BNB after numerous regulation FUD?
On the daily timeframe BNBUSDT seems to be in a nice position to turn bullish.
• First of all, if we look at the BRS (the green/blue bands close to the price), BNBUSDT moves in the bullish range for the last two weeks.
• Furthermore, we are close to a vital level confirmed by a support zone around the $200-$220 price level which is also its 52-week all-time-low level as shown by the green doted line from the BPI.
• Looking at the oscillator, the Blockunity Strength Oscillator (BSO) indicates that the Confirmed Reversal Indicator (CRI) is oversold, as well as the Parabolic RSI (PRSI). Both are under their lower barriers. The signals re-entering their boundaries could trigger a strong bullish signal.
So we would advice to closely look at the price action of the BNBUSDT asset, while keeping in mind the news regarding Binance and their regulatory issues which could trigger violent moves in both directions.
What are your opinions? Do you see theses levels as a good entry point to trade BNB? Let us know in the comments!
• First of all, if we look at the BRS (the green/blue bands close to the price), BNBUSDT moves in the bullish range for the last two weeks.
• Furthermore, we are close to a vital level confirmed by a support zone around the $200-$220 price level which is also its 52-week all-time-low level as shown by the green doted line from the BPI.
• Looking at the oscillator, the Blockunity Strength Oscillator (BSO) indicates that the Confirmed Reversal Indicator (CRI) is oversold, as well as the Parabolic RSI (PRSI). Both are under their lower barriers. The signals re-entering their boundaries could trigger a strong bullish signal.
So we would advice to closely look at the price action of the BNBUSDT asset, while keeping in mind the news regarding Binance and their regulatory issues which could trigger violent moves in both directions.
What are your opinions? Do you see theses levels as a good entry point to trade BNB? Let us know in the comments!