Binance Coin : The Time has come


What is Binance Coin?

With a current market cap of $2 642 927 978 USD, BNB, the Binance Coin is one of the few Altcoins with a real use case, and thus a real intrinsic value.
Right now the coin is working on Binance's proprietary Blockchain's Binance Chain.
Its primary use is to provide an alternative ways for traders to pay for fees charged by the exchange, by offering a discount that decreases over time.

It has a circulating supply of 155 536 713 BNB, and Binance team has a goal to keep reduced the number of coins (thus increasing their value) by proceeding to a "Burn" each quarter of a year, and guess what, the next one is tomorrow: the 10th October (last year's one was on the 10th of October so I guess it will be the same this year).

So that was the big news that should hit the price, but there is another:

Today is the Binance meetup in Riga, Latvia, where the devs will be talking about new features with their exchange:
Futures , Marginal trading, New Referral system, Lending platform etc.


Let's move to the charts :)

Here I will work on BNB/BTC charts, as I am bullish on Bitcoin long term and we are interested in holding coins who perform better than BTC . I rarely look at the USD value.

I like to start with a Logarithmic chart, showing us quickly the big picture of what happened and is probable to happen.
We can easily draw a red support curve on which the price bounces to the upside.
The middle curve in white is a strong level of secondary support.

Back to regular charts, with first a look at BINANCE:BTCUSDT .
Always keep an eye on the Bitcoin chart since all altcoins are indexed on it.
The trend is bearish , and starting to consolidate. Since the price dropped before, there are 66% chances it will drop again, and 33% chances the trend reverses.
What interests us when we trade altcoins such as BNB is the following scenario: a major Bitcoin rally, where all the capital would move from altcoins into bitcoin . In this scenario, it is better to get out of alts and go back to bitcoin . But as we saw, it has less than 33% chances to happen right now, and BTC's price can also go up aswell as altcoins going up, but this is rare (2017's last quarter's insanity).


Back to BINANCE:BNBBTC , starting on higher timeframe, in the weekly.
Using my Heikin Ashi Swing Trading Indicator, It looks like a buy signal could happen at the end of the week.
I know the price has already gone up ~10%, but as a swing trader we are looking for way more than that, so it is worth to wait the confirmation.

Let's dive in the 2H chart.
A huge breakout just happened, right after a solid consolidation phase, as we can see with my Channels Indicator.
In this scenario, if you want to trade in 2H and missed the signal, just jump in the train, put a thight stop loss and profit!
Backtest results at the end of this post!


Let's go even lower timeframe: 5min
I know you like to scalp all the profits with my Scalping Bot Indicator, so here is an aggressive configuration for it!

Backtest results here

Thanks for reading!


> Start using my indicators for either swing trading or scalping, manually or automated ! <
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cyatophilum AABUPATEL786
@AABUPATEL786, There you go
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