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Batrachotoxin
Jun 2, 2019 5:03 PM

BNB turns to bearish, where will it go? Short

Binance Coin / TetherUSBinance

Description

BINANCE:BNBUSDT

A massive rally of BNB in 2019 meets strong resistance at $35.12 (Fibonacci retracement at 1.618 level). After 2 tries of breaking that resistance but failed, BNB will have another try in next days. BUT, the MACD and TRIX/MA indicators have turned to bearish yesterday, indicating that BNB might lose its strenght and fail to break Fib. 1.618 again.

Whole crypto market seems to get exhausted after several excited months. A big correction may take place soon, it is normal and is good for market heath.

In bearish mode, BNB will have a leg down to first support (MA50 on daily - $25.5) and will have a bounce a that price.
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