Hey guys, BNB/USDT formed a double top with 2 touches at 17.2 & 17.4. On the 4H we might be under the EMAs 12 & 26, but on the Daily we're clearly above.
Should we break this area to the upside, there is not much resistance until the All Time Highs at the $24 area, this is more than 30% away right now. => I talked about this in today's video of my Crypto Chart Analysis
In general, one can say that BNB will stay strong because if this is what we get at a BTC downtrend, imagine what's going to happen when BTC & other alts start breaking to All Time Highs again, where will BNB be then?
But beware: We had already broken the $14 Dollar range in a long developing ascending triangle ...and we didn't get much follow through back then. I had personally played that break, and was unhappy, as I had hoped for a much higher break (which obviously depends on grandpa BTC & crypto in general)
So conclusion: A break here could have a huge break, at least to the previous ATHs, but don't forget to look at grandpa. No coffee without him! ;)
Should we break this area to the upside, there is not much resistance until the All Time Highs at the $24 area, this is more than 30% away right now. => I talked about this in today's video of my Crypto Chart Analysis
In general, one can say that BNB will stay strong because if this is what we get at a BTC downtrend, imagine what's going to happen when BTC & other alts start breaking to All Time Highs again, where will BNB be then?
But beware: We had already broken the $14 Dollar range in a long developing ascending triangle ...and we didn't get much follow through back then. I had personally played that break, and was unhappy, as I had hoped for a much higher break (which obviously depends on grandpa BTC & crypto in general)
So conclusion: A break here could have a huge break, at least to the previous ATHs, but don't forget to look at grandpa. No coffee without him! ;)
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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.