I am a rookie, so please use this for your enjoyment and laughter and don't use it to invest or swing.
BNB has been sitting in consolidation for a long-time and has had ups and downs, but nothing dramatic. It has had strong support in the low to mid $200s all month...consolidation went well and it has the volume and utility to go much higher. It is widely used,...
BINANCE:BNBUSDT
BNB Holding this Support For now and Backed by 200 MA on 4H and we can see the bounce from this Area
But Red Trendline is broke Down and for More Secure Position it must Close Above this line
if That Happens TPs would be $293-302 (TP1) / $330 TP2 for short term
Mid-term and long term TPs need another Analysis
What About Stoploss ?
if we fix...
BNB broke and closed below a strong rising trend line.
The breakout was confirmed by a high momentum bearish candle and a preceding strong rejection.
Now a 258 horizontal resistance and broken trend line form a narrow expanding resistance.
From that the price will most likely drop.
Goal - 245
Long idea on Binance Coin (BNB)
A triangle has formed, which may indicate a powerful pump up.
The popularity of the exchange's coins is also growing, there are launches of new projects, for BNB coins you can buy tokens that have not yet been released at a pleasant price. Plus, these are low fees for BNB holders, which in turn makes the coin valuable.
Also,...
I'm waiting that price can make new uptrend. If BNB will back to the position over support line, we will have good chance to open long position. In my opinion price can try reach and break resistance (305.0000).
BNB on the 4hr timeframe has reached strong support zone (demand) for this market, also on the 4hr price has now formed a nice double bottom at support. I am waiting for a break above the corrective descending trendline before looking for a valid entry to long.
BNBUSD will likely downward correction to at Least $230, this can be 1st Buy dip spot ,
IF price cant sustainable and 4H chart candlestick is close below $230, likely will correction to $217 2nd Buy dip spot ,
IF price cant sustainable and 4H chart candlestick is close below $217, likely will correction to $203 3rd Buy dip spo t,
or IF price just one...
Good day, wolves🔥
There is an interesting formation on our lovely crypto pair BNBUSDT.
Symmetrical triangle with previous bullish trend.
According to Elliott Waves theory Wave C is done and now the price is heading to Wave D.
Follow this chart and look for the breakout carefully, coz this triangle may become circumcised....
With more projects looking to solve the gas fee problem, they are looking to the Binance Smart Chain to do it.
This will create more demand for BNB and that's why I think it held pretty strong through yesterday's sell off.
My expectation is that it'll continue this consolidation pattern for probably a few more days before starting it's run up.
