AlanSantana

Binance Coin (BNB) Going Down -Another Bullish Signal 4 Bitcoin?

AlanSantana Premium Updated   
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Recently I shared an observation which I consider to be a bullish signal for Bitcoin . You can read it here:
This observation details how the Altcoins markets growth that is happening can be considered a bullish signal for Bitcoin .

Here we will take a look at another unorthodox signal, to say the least. Taking into account the movement of Binance Coin (BNB) as a possible bullish signal for Bitcoin ... Why is that you might ask?!

BNB detached from Bitcoin on March and started to move inversely to Bitcoin . When Bitcoin moved down, Binance Coin moved up. When Bitcoin went up, Binance Coin went down.

Right now, we are seeing the Altcoins market grow, coin after coin is moving up in price and climbing higher after bouncing from a low point in late June.

Binance Coin is an altcoin, but it isn't moving up together with the rest of the altcoins market, au contraire, Binance Coin (BNB) is going down.

As it was mentioned by @OxHip on my Binance Coin (BNB) thread, it seems that "many people were using BNB as a store of value in the bear market. Which might mean that the fall of BNB signals strength for BTC".

Now, this doesn't mean that Bitcoin will go up because BNB is going down, but this is an interesting development and with a free enough imagination, it can be used as an additional bullish signal for Bitcoin , specially when you take into account my observation of the altcoins market growing as a bullish signal for BTC .

Please share your opinion in the comments section below...

Soon I will be posting my last Bitcoin update, where we can track Bitcoin's movements all the way to the MOON!

Namaste.
Comment: BNBBTC continues with its bearish bias. We will see if a strong decline in price for BNB will correlate with an increase in price for BTC.

On July 5th I mentioned that Bitcoin will shoot up within 24-72 hours, based on a signal that I received from my indicators... We are still on track for this push up to happen.

I will be posting a new Bitcoin update soon.

Thanks again for reading.
Comment: As promised, here is my latest Bitcoin update:

Bitcoin To The Moon Pt.5 + 100% Accuracy (Moon Landing Staged!)
Comment: Yup... BNB going down as BTC goes up...
Comment: We have Bitcoin To The Moon Pt.6. This is the last of this series, we are moving to a new analysis soon...

Please like here and share for more free and detailed analysis (click on image below)...


Thanks a lot for your support!

Namaste.
Comment: BNB keeps on going down, but goes down stronger than BTC going up... Still, the correlation seems real.

Let's keep tracking and see how it develops.
Comment: It would be nice to have Bitcoin going up as fast as Binance Coin is dropping.
Comment: BNBBTC continues to look bearish. It looks like trouble all the way.

Daily:


Weekly:

If the inverse correlation between Binance Coin and Bitcoin continues, then we can expect Bitcoin to continue its strong and healthy consolidation to finally keep on moving up, since the charts are saying that BNBBTC will keep on going down.

Note: This is an comment made based on the main observation above. This is not intended for trade purposes but instead for learning and having an additional signal for what the market might do next.

I appreciate you taking the time to read, always...

I love you even more today!

Namaste.
Comment: BNBBTC is now trading below EMA200 and SMA200 on the daily time frame.

Last time this happened, it made it back up after 1 candle, but we now closed two candles below...


Can BNBBTC make it back?

- There is room to go back up. But there is also room for a bit of upward correction and then more down...

Here is the weekly chart (looking bearish):

If the inverse correlation continues, we have good chance of BNB going down and BTC going up... But too early to tell... I will come back in a few days!

Enjoyed the content? Support us through...
📈 Great Trades 👉 http://lamatrades.com (Since 2017)

📲 Public Telegram channel 👉 https://t.me/alansantana1111
(🔥 Special Offer Available Now!)

📙 Cryptocurrency Trading Signals & Course Available!
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.