Cryptolean Binancecoin BNB Update
Yesterday Binancecoin could not close above $529.
Today, a bullish Bitcoin Dominance put pressure on the Satoshi value of BNB and we saw an intraday pullback to $505.
A daily candle closure above $529 will increase a probability of a continuation of a bullish move up towards $586 and higher towards $600.
An inability to sustain could lead to a re-test of $505 and a dip lower to the key daily support zone at $455-$477.
Intraday Chart
The BNBUSD intraday chart is taking a pause and consolidating.
It is trading in the bullish territory through.
A re-test of the key intraday support at $507 and a bullish rejection will push #Binancecoin price towards $544.
A bullish break-out of $544 will result in a bullish rally towards $588-$620.
A bearish break-out of $507 will lead to a dip towards $472 support and, possibly lower, to $438. .
IMPORTANT: The BNBUSD chart is holding strong and consolidating in a narrow range which is totally normal after last days bullish extension.Once Satoshi price in BNBBTC chart will find a support and reverse, the Dollar price in BNBUSD chart will extend higher.
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Today, a bullish Bitcoin Dominance put pressure on the Satoshi value of BNB and we saw an intraday pullback to $505.
A daily candle closure above $529 will increase a probability of a continuation of a bullish move up towards $586 and higher towards $600.
An inability to sustain could lead to a re-test of $505 and a dip lower to the key daily support zone at $455-$477.
Intraday Chart
The BNBUSD intraday chart is taking a pause and consolidating.
It is trading in the bullish territory through.
A re-test of the key intraday support at $507 and a bullish rejection will push #Binancecoin price towards $544.
A bullish break-out of $544 will result in a bullish rally towards $588-$620.
A bearish break-out of $507 will lead to a dip towards $472 support and, possibly lower, to $438. .
IMPORTANT: The BNBUSD chart is holding strong and consolidating in a narrow range which is totally normal after last days bullish extension.Once Satoshi price in BNBBTC chart will find a support and reverse, the Dollar price in BNBUSD chart will extend higher.
Like once read.
Thank you!
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A bearish daily candle closure below $586 will result in a dip towards $529 and, possibly, lower to $455-$477.
A daily candle closure above the key daily resistance zone of $635-$660 is required for another bullish extension towards $716, the new ATH.
Intraday Chart
The BNBUSD intraday chart formed a double top and is unable to sustain the price action above the resistance at $620.
(1) A re-test of the bottom of the resistance zone of $588 and a bullish rejection or (2) a solid bullish break-out of $620 will push price higher towards $700.
A bearish break-out of $588 will lead to a dip towards $507-$544 and, possibly lower, to $438.