BNBUSD: Analysis using Ichimoku 22/07/2020
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H4
On D1, the cloud is directing upward, indicating an uptrend. Also, the boundary of the ascending plane (channel) is visually visible, which can be a price correction.
Conclusion:
The price can form a local triangle-shaped correction pattern. RSI H4 may also form a triangular range.
We recommend buying BNB at the end of the triangle pattern formation.
H1
At H4, the cloud is directing upward, indicating an uptrend. RSI H1 is near the oversold level.
Conclusion:
It is worth paying attention to the possible resistance line, which could become the border of the triangle on H4. We recommend selling BNB when the price reaches the resistance line, and RSI H1 reaches the overbought level.
In the medium term, we should expect the price to rise to the level of $20, possibly higher.
On D1, the cloud is directing upward, indicating an uptrend. Also, the boundary of the ascending plane (channel) is visually visible, which can be a price correction.
Conclusion:
The price can form a local triangle-shaped correction pattern. RSI H4 may also form a triangular range.
We recommend buying BNB at the end of the triangle pattern formation.
H1
At H4, the cloud is directing upward, indicating an uptrend. RSI H1 is near the oversold level.
Conclusion:
It is worth paying attention to the possible resistance line, which could become the border of the triangle on H4. We recommend selling BNB when the price reaches the resistance line, and RSI H1 reaches the overbought level.
In the medium term, we should expect the price to rise to the level of $20, possibly higher.
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