BNB set to ATH? I guess the explanation is in the chart. Much confluence all around which makes me think we could finally resume higher.
Questions are welcome, trade safe!
Binanceanalysis
Binance: Excited! 😬Lately, Binance has been jumping up and down below the resistance at HKEX:347 excitedly, even hopping above this mark once to finish wave (b) in blue. To complete wave (c) in blue as well as wave ii in magenta, the altcoin should move a bit more purposefully, diving into the magenta-colored zone between $304.40 and $274.90. There, our crypto friend should gain enough upwards momentum to develop wave iii in magenta and thus make it above the hurdle at HKEX:347 effectively. There is a 27% chance, though, that Binance could skip the magenta-colored zone, climbing above HKEX:347 directly to expand wave alt.iii in magenta earlier already.
#BNB Tanks below $250, Will it Slide to June 2022 Lows?Past Performance of BNB
BNB dropped nine percent on December 16 as prices pierced below multi-week support levels. Presently, sellers are in charge, and the coin is technically within a bear breakout formation. Therefore, as it is, traders might find opportunities to unload as BNB slips from a critical resistance, former support.
#BNB Technical Analysis
If H2 2022 price action guides, BNB is bullish. From this, traders might interpret the current formation as an opportunity to accumulate at critical support levels, anticipating a bounce towards Q3 and Q4 resistance levels. However, as it is, aggressive traders can align their positions with the December 16 bear candlestick. In a bearish breakout formation, traders can unload the coin on every attempt toward $250. Their immediate target is around $215, flashing with the 78.6 percent Fibonacci retracement level of the H2 2022 trade range. Further losses might see BNB drop to $185, retesting June lows.
What to Expect from #BNB?
BNB is under pressure after months of holding steady above $250. The coin may be lower because of Binance-related FUD. Even so, with BNB below this line, there might be more losses in the short term.
Resistance level to watch out for: $250
Support level to watch out for: $215
Disclaimer: Opinions expressed are not investment advice. Do your research.
Binance has formed a triangle, look out for these scenarios! Yesterday Binance tried to renew the local high at $316, unfortunately, it failed, and after reaching the high BNB rolled back by 8%. A triangle is forming on the chart now, and at the moment I see two options for price movement!
1) If the price reaches the lower boundary of this triangle and trades near it, it could mean that the price is likely to break this triangle and go down, a good opportunity to enter a short position could be if the price breaks it and retests it as resistance.
2) If price rebounds and goes to the triangle's upper boundary, breaks through it, breaks through the upper boundary, and tests it as support, that would be a good opportunity to buy.
Write in the comments all your questions and instrument analysis of which you want to see.
Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU.
P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
Binance could fall if that happens!😮After the recent strong move of BNB, volatility decreased and now the market is gaining momentum for the next strong move.
Currently, we can see on the Binance chart that the price is slowly moving towards the value zone along its local trend line. If we reach the value zone and during the test we see an increase in volumes, it could be a signal that the price has gained liquidity to sell and could go to the marked lower zone, and only then could be the right time to enter the position!
Write in the comments all your questions and instrument analysis of which you want to see.
Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU.
P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
