Hi guys!
You might have recognized that I am focusing on simple technical analysis. That is, as I mentioned many times before, mandatory to be successful. You might know a lot of oscillators..but sometimes there are giving you bullish signals and some don't. Not because there are not good indicators, but some require a specific interpretation and are more or less confusing to people at the beginning. Simple TA manifests a adamant confidence instead and makes you resistant against times of shaky movement.
Analysis:
FA:
Here you can see BNB Perp Future on the daily bar chart from FTX. This is considered another hot traded coin which could be traded at 4 digits in the near future. Yesterday, on the 12th of march, the same date where we experienced the big drop on Bitcoin, BNB bleeded a lot due to it’s U.S. investigation that they let U.S. citizens trade on their platform while crypto is illegal in the states. So far some fundamentals.
TA:
BNB is currently, like many other hot coins, moving in a bullish triangle on the daily bar chart. I have drawn two horizontal lines on it. The first one is the psychological 0.5 line which is considered to be touched during this weekend, especially on the self-fulfilling-asia-dumping-session on monday, next week. That is what nobody really knows. But as you may have followed my two previous GRT posts, you saw that my first scenario did not play out that easily. That is the reason why I have drawn two potential scenarios on that chart.
Number one represents a more smooth way. Consolidation to the apex, breakout and a retest to the apex before going for a new ATH.
Number two shows you the fake out scenario with a potential drop to the 0.382 fib level before trending upwards again.
Scenario two is more likely to happen if you ask me, since the total market cap, excluding BTC is not done bleeding.
This is me for today. My GRT and 1INCH are still in play. Also have DOT in play, which I will update on tomorrow morning. This, of course, is not financial advice.
Cheers!
You might have recognized that I am focusing on simple technical analysis. That is, as I mentioned many times before, mandatory to be successful. You might know a lot of oscillators..but sometimes there are giving you bullish signals and some don't. Not because there are not good indicators, but some require a specific interpretation and are more or less confusing to people at the beginning. Simple TA manifests a adamant confidence instead and makes you resistant against times of shaky movement.
Analysis:
FA:
Here you can see BNB Perp Future on the daily bar chart from FTX. This is considered another hot traded coin which could be traded at 4 digits in the near future. Yesterday, on the 12th of march, the same date where we experienced the big drop on Bitcoin, BNB bleeded a lot due to it’s U.S. investigation that they let U.S. citizens trade on their platform while crypto is illegal in the states. So far some fundamentals.
TA:
BNB is currently, like many other hot coins, moving in a bullish triangle on the daily bar chart. I have drawn two horizontal lines on it. The first one is the psychological 0.5 line which is considered to be touched during this weekend, especially on the self-fulfilling-asia-dumping-session on monday, next week. That is what nobody really knows. But as you may have followed my two previous GRT posts, you saw that my first scenario did not play out that easily. That is the reason why I have drawn two potential scenarios on that chart.
Number one represents a more smooth way. Consolidation to the apex, breakout and a retest to the apex before going for a new ATH.
Number two shows you the fake out scenario with a potential drop to the 0.382 fib level before trending upwards again.
Scenario two is more likely to happen if you ask me, since the total market cap, excluding BTC is not done bleeding.
This is me for today. My GRT and 1INCH are still in play. Also have DOT in play, which I will update on tomorrow morning. This, of course, is not financial advice.
Cheers!