BNBBTC trade ideas
BNB/BTC Magic 8h lineI have very complex charts, but i figured i'd just show you the main magic line. Reversal is looking strong on the smaller timeframes.
BNB / BTC Daily Candle Big Picture AnalysisAs you can see, every time we touch DAILY EMA10 (or EMA11 shown as well) the next day we have a large green candle. If BNB/BTC can close above the EMA10 today (~472), following the same trend we can expect bullish price action tomorrow, or potentially a retest of the areas shown.
BNB barely passed its previous ATH shown with the purple line (about 35%). Since binance has grown so much, with the introduction of the binance smart chain, ATH user registrations, and volume in the middle of the biggest mainstream adoption crypto has ever had - I think we can say the bias is more likely bullish than bearish from here. If it is not bullish, will probably have a very slow bleed. Enjoy my idea!
BNBBTC- breakout?BNBBTC since the recent bullish rally has made a nice correction, during the correction market has formed this symmetrical triangle formation in which the range is tightening and price looks to be coiling up for a breakout.... i am waiting for price to fix above the mid resistance line before possibly looking to catch the breakout.
bnbbtc descending triangle reversal on the daily ema 10 (log)see how this plays out, bnb might crazy pump.
BNBThis is not a financial advice. Always do your own research and always put stoploss in your trade (SL) :) If you want more detailed info how to study and read charts or just need help with some coin, just write to me here personal message, i will try to answer to everybody... i can help you :) all for free, don't worry, BE HAPPY!
If u like the analysis, please feel free to ask any question about this TA or crypto or any coin and also leave a comment or like or share the idea, i really appreciate it because then my work makes sense :) thanks!
I really like BNB here, can move a bit higher - what do u think?This is not a financial advice. Always do your own research :) If you want more detailed info how to study and read charts or just need help with some coin, just write to me here personal message, i will try to answer to everybody... i can help you :) all for free, don't worry
Short term analysis: BNB Upthrust in progress? So we have a possible ABC correction shown on the chart. Volume seems to confirm that.
Then we have waves 1 and 2, bouncing between the two green boxes (support and resistance) and now we've possibly begun wave 3 from the FAN support line, which should take us to the top of the wycoff distribution/re-accumulation box. I would suspect the redux resistance from the impulse down from the climax will be the resistance there, forming a wave 4 down to the green box for support. And then we have the final wave 5 that should form the actual upthrust, that should go to at least the previous climax, if not a little higher, but only a little bit, as we are not on any breakout yet, this is still a phase of distribution/re-accumulation.
After the upthrust, you would expect things to dip back down into the brown box (possibly half way, or even all the way) before building up for the final upthrust after accumulation/distribution. And at that point, the market decides whether to push BNB to new highs (the 8800 target perhaps), or whether this is distribution, and we fall much lower.
Let's see how this plays out. Obviously the ball is pretty much entirely in Bitcoins hands today, but in my opinion BTC is bullish today (Sunday); but tomorrow will be the big uncertainty!
Bnbbtc potential break out!4h close above ~492 = breakout of downwards trendline
The dotted trendline is a 4h line.
BNB looks bullish for a last waveBNB is at a decision point. Recently formed a golden cross on the daily. Trend and momentum is bullish.
BNB's main appeal is it actually has a present use. Also being the home coin of Binance helps... Just be sure to take profits.
Price target in green.
Stop loss in red.
Good luck!
BNBBTCFundamental analyze is very good. BSC is growing very fast. Good projects creating day by day. They needs more BNB. But BNB is limited and burning every season. Just buy and HOLD for long term.
