Binance Coin / TetherUSUpdated BNB - Want some coffee?
BNB has been holding up not to badly in these tough times. The key was to wait for a trend reversal to buy back in.
Now we are seeing a possible channel having formed indicating an upwards trend! The RSI is pointing straight up and the MACD is looking for separation and is on an upwards trend - above the 0 level where we will start to see some movement.
It seems we have a possible cup and handle formation having formed within the channel. This is an extremely good sign, if however BNB were not to confirm a breakout even at least a slight one we could see it slip out of the upwards channel I've drawn in. This could be bad.
I will wait for a breakout to execute a trade. This is on the watch list for now!
This is not financial advice please do your own research.
Best of luck,
X
Now we are seeing a possible channel having formed indicating an upwards trend! The RSI is pointing straight up and the MACD is looking for separation and is on an upwards trend - above the 0 level where we will start to see some movement.
It seems we have a possible cup and handle formation having formed within the channel. This is an extremely good sign, if however BNB were not to confirm a breakout even at least a slight one we could see it slip out of the upwards channel I've drawn in. This could be bad.
I will wait for a breakout to execute a trade. This is on the watch list for now!
This is not financial advice please do your own research.
Best of luck,
X
Note
Cup and handle formation invalidated. Now BNB seems to be trying to get back up to the channel!Note
BNBs formation and charts are highly dependant on the price of bitcoin as is everything else is in these times. We have to watch both BNB and bitcoin.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.