Good day to all traders,
I know.. I know.. Its an easy cliché to say but BNB could go up or down from here.
Bullish scenario,
Looking to break the previous ATH/trend line @ around 25 - 26 first to play the bullish scenario.
This line acted as good support until it got broken around august '18.
We might get a good change to test this resistance again and hopefully break through. If it also later finds support on this line, that would be a very bullish confirmation IMO.
Possible target for this scenario could be somewhere between 80 - 120 usd. Although its hard to say this early.
Bearish scenario,
If BNB fails to break above this previous ATH / resistance a pullback is very likely.
Most likely to the long term support line at aprox. 10 usd.
Since fundamentals are very strong for BNB nowadays, I think it is more likely to see the bullish scenario play out here.
This depends however on the overall market performance the coming months, whether we get a short term BTC pullback or not is probably a deciding factor.
I would like to here your thoughts on this!..
Remember to stay safe, manage risk etc. etc.
Happy Trading!
I know.. I know.. Its an easy cliché to say but BNB could go up or down from here.
Bullish scenario,
Looking to break the previous ATH/trend line @ around 25 - 26 first to play the bullish scenario.
This line acted as good support until it got broken around august '18.
We might get a good change to test this resistance again and hopefully break through. If it also later finds support on this line, that would be a very bullish confirmation IMO.
Possible target for this scenario could be somewhere between 80 - 120 usd. Although its hard to say this early.
Bearish scenario,
If BNB fails to break above this previous ATH / resistance a pullback is very likely.
Most likely to the long term support line at aprox. 10 usd.
Since fundamentals are very strong for BNB nowadays, I think it is more likely to see the bullish scenario play out here.
This depends however on the overall market performance the coming months, whether we get a short term BTC pullback or not is probably a deciding factor.
I would like to here your thoughts on this!..
Remember to stay safe, manage risk etc. etc.
Happy Trading!
Comment:
50 day MA is under heavy pressure right now. The daily volume is quite low so I am getting more confident that the bearish scenario will play out.
There is still a very small change the daily candle will close above this 50 day ma but it is very risky to bet on that, be carefull.
I will pick up some BNB at a cheaper price, around 10 to 15 usd possibly.
There is still a very small change the daily candle will close above this 50 day ma but it is very risky to bet on that, be carefull.
I will pick up some BNB at a cheaper price, around 10 to 15 usd possibly.
Comment:
Buy volume is picking up again. Looks like fundamentals outweigh the FUD on BNB after all.
Comment:
50 day MA held quite well. I'm confident that we are going to test the yellow/blue resistance line again very soon. Keep a close eye on the volume @ previous ATH levels, we need a good amount of volume in order to break through.
Binance reopening deposits and withdrawels very soon could have a positive price effect as well.
Binance reopening deposits and withdrawels very soon could have a positive price effect as well.
Comment:
New ATH, BNB broke above the yellow/blue line quite easy. Im very bullish right now especially when Yellow/blue line tests as support within the coming days/weeks.
So 50 day MA (around 20 usd) acting as a very important support level for now. If this level survives the coming week, a retest to the yellow/blue line will happen imo.
If BNB closes below the 50 day MA (not just a wick but a full close below) gravity will do its thing and push BNB lower. How Binance handles the hack the coming week is very important. Deposits and withdrawals must function again ASAP, the longer this takes, the harder for BNB to recover.
I will remain patient on this one and keep this post up to date.
Good luck ;)