✴️ Binance Coin: Bearish Signals

Hello my dear reader, we are doing candlestick reading now and we will focus mainly on recent price action.

I hope you are having a nice weekend.

Sometimes we focus on Elliott Wave Theory as the main system we use for charting/sharing. At times, we focus on the moving averages, oscillators and trend. At other times, we look at correlated markets and so on; when we combine all these signals, a clear picture shows up.

➖ Binance Coin (BNBUSDT) first bearish signal came in 16-March.
A very strong bearish candle showed up leading to four red days.

➖ A bounce led to a lower high 12-April.
This 12-April session is the second signal. This lower high is a Doji with a volume breakout.

➖ Today's session works as confirmation because now BNBUSDT is moving below EMA10. (Bearish continuation.)

Summed up:

👉 We have a strong drop that leads to a lower high and the continuation of the bearish move.

Namaste.

Comment:

Binance Coin (BNBUSDT) bearish potential is now fully confirmed and active; the action moves today below EMA50.

➖ Moving below EMA50 activates lower targets the first one being $492 (EMA100).
➖ This is followed by $412 (EMA200).
➖ And finally the $374-$365 price range (EMA300 and MA200) —yellow on the chart.

These are easy target.
Expect them to hit within days. Maximum weeks.

My work is done.
I will share new charts after the bearish wave is over.
We wait for the correction to be over and then spot the reversal signals to get bottom prices for the next bullish wave.

Patience is key of course!

Thanks a lot for your support through the hard times.

Namaste.