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Bnbshort

BNB correction+Death CrossHey guys, First of all,i would like to tell you that i am a very big fan of Binance and what their team is doing for the crypto community. Even though we have been surprised multiple times by amazing news from the Binance development team,the BNB token used on their platform is about to lose some of it's value on behalf of BTC. As illustrated by the tehnical analysis that you can see above,we are currently in an early triangle formation,that suggests an upcoming correction to the price of BNB. Unfortunately,a death cross has formed,meaning that the 200 MA has gone above the 50 and 30 MA's. How to trade: In my opinion,staying out of BNB is the best decision,at least until we see some price stabilisation.I will provide you with an update as soon as the 18k satoshi mark is reached. Hopefully,we will see the price stay inside the white triangle and not break below. None of this is trading advice,as it only represents my opinion on how things will evolve. If this has been helpful to you in any way,please feel free to drop some change in my piggy bank, or just leave me a review in the comment section.(It would mean the world for me ;) ) BTC: 1FT5eALCLpTKtQDiwQrEvuq51ScXJQqDEZ ETH: 0x3d2966f2cd842dd4c63cb42991d234b8f07e78b5 For any questions,leave a comment down below and i will answer as soon as i get to see it. Cheers!
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by The_Sparrow
28
BNB/BTC (Binance) Great Future, But Wave 5 of (1) Looks CompleteBNBBTC, 5/24/18, analysis completed at 6:00 PM EST, by Michael Mansfield.  Hola trader friends, I love the Binance chart long-term. And, I like their business and think they have a great future. But, it’s first set of Elliott Waves up looks complete. I’ll be brief today. BOTTOM LINE: Binance has likely topped on its first major move since opening their doors. BNC Token has 3 legs up, each having at least 5 Impulse looking trending waves up, and two intervening correctives. Corrective waves alternated their patterns, depth and length. Perfect for a 5 Wave Impulse move to be complete. Current up-move off low on 04/20/18, looks like a weak corrective bounce, rather than a new up trend. Main cycles are now pointing down, at least until July 23, 2018. Consider shorting opportunities until then, or a new high is made negating this view. ELLIOTT WAVES: I’ve labeled the all-time high (ATH) as a completed Wave (1). First down move from the ATH, labeled Wave (a), and would likely be only the first corrective wave of an “ABC” 3 or more wave correction. The recent bounce would likely be Wave (b). I think it will ultimately be a FLAT correction, or a ZigZag. Either way, Wave (c) would likely be below where BNC is trading now, regardless of the shape of the correction. It is just a question of how much lower. After Wave (c) completes, that would likely mean that the first large correction, Wave (2) would be complete and a much larger degree Wave (3) would unfold higher. If true, you don’t want to miss that move, especially since Binance has such a large market share. VOLUME FORCE: Volume Force also says the recent bounce was likely a weak corrective rally, not new uptrend. CYCLES: This is a very new token. Trading began in August 2017, so the medium-term and Longer-term cycles are less trustworthy until there is more data. That said: Medium-term pink cycle has topped and bottoms July 23 +/- 2 days. Shorter-term cyan cycle is up until June 9th, then bottoms on July 3. Remember, the larger cycles usually dominate the smaller cycles. Since the bigger cycles are heading down, this bounce will likely be over before June 9th, and the low, even as stated, will likely later than NEGATED IF: This short-term bearish outlook would be negated if BNB makes a new high and the Klinger Volume Force indicator makes a new high, higher than its high on May 18th. If negated, that means this token is riding a much larger cycle than we can currently measure, which, is totally possible, and even likely, since it is less than a year old. DISCLOSURE:   This analysis is meant for educational purposes only. You trade at your own risk!   Cheers!  Michael Mansfield CIO  
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by UnknownUnicorn1613901