Despite the weekly (non-technical) volatility (ATR = 0.4643), the Binance Coin has created the anticipated Channel Down on 1D but remains largely neutral (RSI = 50.191, MACD = -0.050, Highs/Lows = 0.0000) due to Monday's spike. The 8.8857 and 8.2522 support levels need to break on this Channel Down. Our TP on BNBUSD remains 7.5154.
The Binance Coin is trading just below the 10.66 1D Resistance which was marginally broken but appears to be rejecting the uptrend since (RSI = 51.974, Highs/Lows = 0.0000). If this is considered a Lower High on the 1W Channel (MACD = -0.305, Highs/Lows = 0.0000, B/BP = -1.3464) then a Channel Down should emerge towards the two support levels: 8.8857 and 8.2522....
The 1D Triangle was crossed to the upside but BNBUSD was again rejected near the 10.6630 0.618 Fibonacci which now acts as a Resistance on 1D (RSI = 51.257, STOCH = 54.064, Highs/Lows = 0). This has made an ideal technical Lower High on the 1W Channel Down (MACD = -0.245, Highs/Lows = -0.3186, B/BP = -1.9013) but is the last chance to break into a new Lower Low....
The 1D Triangle has extended to another 0.618 Fibonacci rejection at 10.6630 and BNBUSD remains mostly neutral on the short term (1D ADX = 24.067, CCI = -34.4623, Highs/Lows = 0.0000). The 1W Channel Down is still bearish though (MACD = -0.192, Highs/Lows = -1.0307, B/BP = -2.7842) and a cross below 9.05 is expected which will break the Triangle and allow our TP =...
The Binance Coin is on a bearish channel both on 4H (MACD = -0.021, B/BP = -0.0812) and 1D (MACD = -0.384, B/BP = -0.4405) but is currently on a deceleration due to the Triangle that is creating Higher Lows on 1D (Highs/Lows @ 000). If 8.89 breaks (most likely due to the underlying 1W bearish trend) then the Triangle is void and the Channel Down can continue to a...
BNBUSD eventually made a Lower High on the 1D Channel Down (RSI = 38.939, MACD = -0.287, Highs/Lows = -0.6415, B/BP = -1.7404) and was emphatically rejected (STOCHRSI = 0.000, Williams = -89.646). This strong rejection was just above the 0.5 Fibonacci retracement level (11.773), which indicates that it is most likely to be sustainable. We remain short with TP = 7.5154.