Midterm forecast:
. While the price is above the support 15.015, resumption of uptrend is expected.
. We make sure when the resistance at 18.880 breaks.
. If the support at 15.015 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
. The RSI downtrend #1 is broken, so the probability of resumption of uptrend is...
BNB touched the resistance more than one time and i think that the buyers now are pushing it to the new price. It may be a good decision to catch the flying plane.
So BNB has been on a mission for the last few weeks and I don’t think it stops here. My Elliot wave count suggests we are in a 4th wave right now, which has corrected deeper as expected due to the shallow wave 2. I expect a bounce along the golden pocket and a final push up to test the highs.
Hi, Traders ! Monfex is on the air !
We have a portion of good news for you! Binance’s native cryptocurrency (BNB) will be underlying of a new exchange traded product (ETP) and hence will be traded on the stock exchange.
* The largest crypto exchange, Binance, informed that it has entered into a partnership with fintech firm Amun, aiming to create the...
BNB right now is struggling against the 200 moving average which is shown on the hourly timeframe. I believe that very soon it will crash down out of the channel and bounce off the 50 moving average (shown by the orange arrow). This will result in a fast move back up through and beyond the channel towards my first target of $50.
