Bnbanalysis
BNB 12h. Why there is a big chance to see $16.5?BNB remains one of the strongest coins to hold up well under the current BTC dominance. If we look at how other coins and tokens fell yesterday, when BTC tested the lower limit of local consolidation, the BNB stability is impressive.
After yesterday's f all by 3% , BNB buyers managed to renew the local high. Most of the other coins failed to even organize a decent rebound.
However, is the BNB local trend from 23 September really strong enough to renew the previous high $33.38?
More than a month has passed since the publication of one of our first BNB ideas.
And we are back to the target near the level $16.5.
With a very high probability, a rather rare "Adam and Eve " pattern is forming on the BNB chart.
So far, all the necessary conditions are met :
- the first top is sharp with spikes and high volumes
- the second top is U-shaped with low volumes
- the difference between the tops is not more than 5%
- distance between tops 3-7 weeks (on the chart 5 weeks)
This formation work out:
- the first possible stop is the level $25
- formation confirmation - the breakout the level $22 down
- a rebound from level $20 upwards and testing the level $22 for strength from below
- trade and the final fall to the level $16.50.
Cancellation of this formation, the price fixing above $33. 40.
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BNB.12h. Purchase zone $20-20.45.Good afternoon! New local BNB idea which continues previous ideas.
The main scenario works out well, the levels work.
The next step in our scenario is the continuation of the fall to the range $20-20.45. We think it is a good purchase zone.
Regardless of how aggressively the price comes to this range, we estimate the risk of the fall continuation to $14.
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BNB 1D. Will the news about BNB staking keep off the $14 test?On 6 September, Binance announced the possibility of participating in BNB staking , which caused hype and abnormal coin buy out during the day (compared to other altcoins that day)
Users will be able to placec BNB, BUSD or ARPA in three separate BEL cultivation pools for 30 days starting from 9 September.
On 16 September, Binance will open token trading in pairs with BTC , BNB, BUSD and USDT.
Bella Protocol was created by the ARPA project team. It is positioned as an Aggregated User Interface for existing DeFi protocols. In August, Bella Protocol raised a total $4.5 million in a private token sale of 6% BEL fees. The selling price was $0.75 per coin.
Several factors to consider:
an unknown number of staking participants, the more participants the less the reward for everyone in the form of BEL coin
trades will begin as early as 16 September and it is not known what the situation will be on the crypto market, perhaps the fall will not be covered by bonuses in the form of BEL coins, since the price of future trades is not known
it is another DeFi project that can be pumped up a lot and the BEL coin will be much more expensive than the previous $0.75
staking participants can pick up their BNB coins at any time and merge in the market.
Technical analysis
An active buy out on 06.09 with high volumes did not receive support either on 07.09 or 08.09, trading volumes began to decline - it confirms the manipulative growth.
Moreover, daily candles on 06.09 and 07.09 formed a classic
reversal price pattern "Hangman".
Therefore, we believe that the long scenario only after fixing above $23.96 .
In all other cases - short , with global targets down $16.50-16.60 and $14.10-14.26.
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Since 2016, we have been analyzing and trading the cryptocurrency market.
We transform our knowledge, trading moods and experience into ideas. Each "like under the idea" boosts the level of our happiness by 0.05% . If we help you to be calmer and richer - help us to be happier :)
BNB/USDT BINANCE1D candlesticks.
Bar Pattern Repetition expected.
price must stay above Ichimoku cloud for uptrend movement to continue.
If the price breaks the uptrend parallel channel,
new TA is needed.
Support and Resistance Levels are shown as horizontal lines.
stable volume.
MACD sideways trend.
Good Luck