Short

BNB - Due for a Pullback?

Updated

The MACD and RSI are weakening while BNB continues to outpace BTC. This may signal a bearish reversal in the short term with a pullback to the .618 fib extension or the long-term trendline. While MACD is above the 0 line we still anticipate an overall bullish momentum until either the 0 line or the long-term trend line is breached.

I am relatively new to TA so take with a gain of salt.

Note

BNB is retracing faster than expected as BTC shows tremendous strength with every dip being bought. Recent hack news isn't helping this exchanged based coin.

As shown above BNB has retraced to and bounced off the .618 fib. Further sell off will likely bring us to the long-term trend line.

Thanks all!

Note

BNB continues it's drop and is attempting to bounce off the 0.5 fib near the long-term trend-line. If these two major supports do not hold we may see a further a precipitous decline in BNB as Bitcoin continues to pump.

Logzor

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