The situation in the BNB market is beginning to get out of control of buyers.
The first signal of such an opinion is the loss of an important range of $44-44.8, which occurred on January 19. The false impression that on January 18 buyers took control of this range did not allow the price of BNB to continue to rise. The weakness of buyers was immediately felt...
Risk warning, disclaimer: the above is a personal market judgment based on published information and historical chart data on Tradingview, all analysis is only subjective. Hope investors consider, I am not responsible for your investment decision. Thank you.
BNB has one of the ugliest long term charts (not saying bullish/bearish, just visually ugly) and I really tried to make some decent EW count on 4hr/daily TF but I just couldn´t :D
However on lower time frames, we had decent rejection off the top, this rejection is in the form of 5-wavish leading diagonal, which is always 1st wave in the cycle. On the other hand,...
Quick update - BNB dropped in few hrs 10% and hit MA100 (bounced 2x before after touching MA100) and also 4H support trendline, RSI is oversold so I expect fast bounce. SL below trendline
This is just idea, not investment advice
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Binance has strong chance to hit new uptrend levels before Bitcoin decides to correct
as far as the price broke above my wedge pattern on daily chart and closed above it
and all indicators confirm that I assume there is a good chance the bulls keep the price
upward more in coming days. the target levels are shown in my chart.
but if BTC drops we can...
$BNB.X is inside an ascending channel and now the price is testing the 4 resistance. IF the price will have a breakout from bull flag, According to Plancton's strategy (check our Academy), we can set a nice order
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Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily...
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You should watch for any movement that deviates from the 38.1558-45.0221 section.
In particular, you need to make sure you can get...
Two weeks have passed since the previous BNBUSDT idea was published.
The idea has clearly worked out the target of $44 , which means it's time to refresh our thoughts.
The fact that the level $44 was correctly calculated is indicated by 3 false breakouts, three shadows which are above the level where sellers were successfully selling and all candles closed...
Binance coin in the dollar pair is very interesting. It has just crossed its historical top and also crossed this huge ascending triangle. For a conservative target, I used the same projection of its last impulsive wave, wave 2, with about 170% of the profit but it still is necessary to wait for it to give us a good entry point.