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BNBUSDT

BNB/USDT 1H Chart Review Hello everyone, let's look at the BNB to USDT chart on a one hour timeframe. As you can see, the price is moving above the local uptrend line. After unfolding the trend based fib extension grid, we see that there is a support zone from $242.8 to $242 first, then support at $241.39, and then the second zone from $240.73 to $239.81. Looking the other way, we see a resistance zone from $243.92 to $244.58, resistance at $245.12, and then a second strong zone from $245.69 to $246.46. The CHOP index indicates that there is still energy for a move, the RSI is approaching the upper limit again, which may reverse the direction of the price, while the STOCH indicator has crossed the upper limit, which may result in a stronger downward move.
by cryptodailyuk
BNBUSDT Sideways Trading Strategy! 🚀 BNBUSDT Sideways Trading Strategy! 📉 #BNBUSDT #Cryptocurrency #TradingStrategy #TechnicalAnalysis #SidewaysMarket Hey crypto enthusiasts! 📊 Today, I've identified an exciting opportunity in the BNBUSDT cryptocurrency pair. The 1-hour chart indicates a sideways market, lacking a clear bearish or bullish trend. To capitalize on this situation, I've devised two trade plans using buy stop and sell stop orders, strategically aligning with key support and resistance levels. 📉 Trade Plan 1 - Sell Stop Order 📉 🎯 Entry: At S2 level of 237.5 🛡️ Stop Loss: Above S1 at 240.1 🎯 Take Profit: 1:1 at 234.9 In this plan, we are looking to profit from a potential downside move within the sideways range. The entry point at S2 suggests a bearish continuation, while the stop loss above S1 provides protection against a possible reversal. The take profit target is set at 1:1, aiming for a reasonable profit within the range. 📈 Trade Plan 2 - Buy Stop Order 📈 🎯 Entry: At R2 level of 246.7 🛡️ Stop Loss: Below R1 at 244.0 🎯 Take Profit: 1:1 at 249.4 In this plan, we aim to benefit from a potential breakout to the upside. The entry point at R2 indicates a bullish breakout, while the stop loss below R1 helps manage risk in case of a retracement. The take profit target is set at 1:1, offering a balanced risk-to-reward ratio. Please remember that trading in a sideways market can be challenging, and it's crucial to exercise caution. Use appropriate risk management strategies and avoid risking more than you can afford to lose. Best of luck! 🍀 Happy trading! 🚀💹
by T-Q
Ethereum Showing Extreme Weakness - Major Trend Break Just thought I would leave this here to see how it evolves as I don't look at Ethereum much besides the utility of stablecoins. In the past months Bitcoin has hit a macro bottom and completed a pretty good bounce roughly 90% indicating true accumulation + interest and this is before the Spot ETF's had been announced. Ethereum on the other hand had actually dropped under Bitcoins Macro bottom and had been trending to stay alive on the the line (Green) 56%. Compare BNBUSD we see the same picture indicating less and less interest in the native Eth token what could be some of the reasons? Many allocators interested in Bitcoin could only really use exchanges via bank transfer > stablecoin of your choice mainly USDT > Bitcoin, this means the majority of volume and price upkeep on the native Ethereum token is not based on its own unique ecosystem rather based on the Stable coins providing the only mode of transport. We see the decline of Ethereum's strength directly correlated with USDT, USDC, BUSD declining growth proving this theory including MSTR (MicroStrategy) offering one of the only alternatives to have exposure to Bitcoin. Where is this going where does it lead? Simply if the stable coin model fails to provide more and more liquidity to feed the BNB or Ethereum Chain the chains results to failing unless you can keep the native token price up. Spot Bitcoin ETF's and internal Fidelity trading platforms will render stablecoins needing to use blockchains like Ethereum, Solana, Binance Chain not needed. Paolo Ardoino (Tether CTO) explains this model very well, exchanges forcefully chose to not adopt Bitcoin Lightning Network due to basically no fee's and no native token, forcing Ethereum / BNB forces liquidity into L2 chains and staking funding exchanges to do more marketing. See if Spot ETF's come in and other exchanges like Coinbase, Bitfinex etc adopt Lightning Network the demand for stable coins on Ethereum / Binance Chain would free fall and its already starting. As the NFT / DeFi hype continues to decline leading exchanges will need to change their business model like firing thousands of employee's and adopting Lightning Network and eventually USDT, USDC will run on Lightning Network. Paolo Ardoino 🍐 Tweet twitter.com We will see over the months how this develops.
INDEX:BTCUSD
by FederalXBT
1
After exited from pennant, Binance Coin can rise to 245Hello traders, I want share with you my opinion about Binance Coin. Observing the chart, we can see how the price recently bounced down and fell to the support line, thereby breaking the 235 support level, which coincides with the buyer zone. After this BNB at once bounced of the support line and rose to the resistance level, breaking the support level again, but when the price reached the 250 level, it rolled down to the buyer zone, which coincide this time with the support line. Next, BNB rose to the resistance level again, then made a little correction and continue to move up to the resistance line, thereby breaking the seller zone and resistance level. But after this, the price bounced down and fell below to support line, forming upward pennant pattern. Also a not long time ago Binance Coin broke the support line, thereby exiting from pennant and now trades below. I think that price can continue to rise to the support line and after BNB reached it, the price can make a little correction and then bounce up. For this case, I set up my target at the 245 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
6
BNB/USDT Short-TermHello everyone, let's look at the BNB to USDT chart on a one hour time frame. As you can see, the price is moving along the uptrend line. After unfolding the trend based fib extension mesh, we see that the first support is at $243, then there is a support zone from $242 to $241, and then support at $240. Now let's go from the resistance line, as you can see the first resistance is $246 and then the price needs to break the $247 zone to $248. The CHOP index indicates that there is a lot of energy gathered, the MACD confirms the local uptrend, and the RSI is in the upper part, however, there is room for the price to go towards the first resistance.
by cryptodailyuk
The 210.2-243.5 section corresponds to the buy sectionHello? Traders, welcome. If you "Follow", you can always get new information quickly. Please also click "Boost". Have a good day. ------------------------------------- (BNBUSDT chart) Looking at the big picture, I would expect a trend to form along the way out of the 210.2-353.3 zone. Among them, I think that the 210.2-243.5 section forms a strong volume profile section. Therefore, if the 210.2-243.5 section is touched or supported, it is time to buy. If you buy and you think there is nothing you can do to deal with it if it drops below 210.2 and leads to a big drop, then of course you shouldn't buy. What you must think about before proceeding with the trade, that is, before buying, is to decide when to buy first, when to sell first, and when to stop loss. Otherwise, there is a high possibility that you will suffer from psychological pressure from the moment you buy. To do this, you can use the HA-Low and HA-High indicators. If it is supported by the HA-Low indicator, it is the first round of buying. When it rises around the HA-High indicator, it corresponds to the first selling period. The stop loss point can be determined based on the support and resistance points indicated on the chart and the number of splits. (1M chart) Looking at the 1M chart, we can see that the 284.8 point corresponds to the last support and resistance point. However, since the HA-High indicator on the 1M chart forms a horizontal line at point 179.2, there are support and resistance points, but from the current point of view, point 284.8 can be seen as the last point of support and resistance. Therefore, from a long-term perspective, it can be interpreted that the downtrend is likely to continue. (1W chart) Looking at the 1W chart, the last point of support and resistance is at 233.9. Therefore, from a mid- to long-term perspective, it can be seen as an important period. Since the HA-Low indicator (243.5) of the 1W chart is formed near the 233.9 point, if it is confirmed to be supported around 233.9-243.5, it is expected to rise to the vicinity of the HA-High indicator (284.6) of the 1W chart. Therefore, we can see reasons to buy around 233.9-243.5. (1D chart) The 1D chart looks very cluttered because the support and resistance points of the 1M and 1W charts are also marked together. However, based on the 1M and 1W chart descriptions, 1st: 210.2-243.5 2nd: 284.8-332.4 The 1st and 2nd sections above correspond to the important support and resistance sections. Therefore, if you are trading from a short-term perspective, you can buy in the 1st section and sell in the 2nd section. If you are going to buy from a mid- to long-term perspective, you can do split buying over the 1st and 2nd sections. From a mid- to long-term perspective, the sell zone is around 427.2, and from a long-term perspective, the sell zone is around 564.3. The stop loss for all trading strategies is 179.2. The next period of volatility is around August 6th. -------------------------------------------------- ------------------------------------------- ** All descriptions are for reference only and do not guarantee profit or loss in investment. ** Even if you know other people's know-how, it takes a considerable period of time to make it your own. ** This is a chart created with my know-how. ---------------------------------
by readCrypto
1
Bnb Have to face more pain Bnbusdt In this trading idea, we will be analyzing the current price action of Binance Coin (BNB) on the daily timeframe. The chart suggests that BNB is experiencing a bearish channel, indicating a downward trend in the market. As you may recall, if you have been following my previous predictions, we successfully forecasted the downfall of BNB when its price was at $302. Since then, the price has declined significantly and currently stands at $239, resulting in substantial profit potential for those who acted on our earlier analysis. Looking ahead, I remain cautious about BNB's prospects and expect the price to face further downward pressure in the upcoming days. However, it's essential to emphasize that trading and investing involve inherent risks, and markets are subject to volatility. Therefore, I encourage you to conduct your thorough research and consider your risk tolerance before making any trading decisions. Keep a close eye on the bearish channel formation and other critical indicators to validate your trading strategies. The market can be unpredictable, so it's crucial to stay vigilant and be prepared to adapt to changing conditions. Remember, this is not financial advice, but rather an idea based on the current chart patterns and technical analysis. Always exercise prudence and make informed decisions in the market. Happy trading and good luck!
Short
by Crypto-By-Ghazi
Binance Coin can grow to resistance line and try to break itHello traders, I want share with you my opinion about Binance Coin. By observing the chart, we can see that price bounced from the resistance level, which is located in the seller zone, and fell firstly to the support level, but soon Binance Coin declined lower to the buyer zone. A few time later price declined more to the support line, but at once rolled up and rose to the resistance level, where it at once too bounced back to the support line. After these movements, BNB made a strong upward impulse higher of the seller zone to the resistance line, thereby forming an upward pennant pattern. Then the price fell to the support line, which coincide with the support level, and a not long time ago bounced up and rose to the resistance line. At the moment Binance Coin trades near the support line and probably it can decline to the support line, and then bounce up to the resistance line. Also, I think, the price can break this line and make a retest, after which BNB can continue to move up, Therefore I set up my target at the 250 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
5
Hello everyone, I invite you to review the BNB/USDT 4H ChartHello everyone, I invite you to review the BNB chart against USDT, also on a four-hour timeframe. First of all, using the blue lines, we can mark the uptrend channel in which the price is currently moving in the lower part, it is also worth marking the local downtrend line with the yellow line. Now let's move on to marking the places of support. We will use the trend based fib extension tool to mark support, and first we will mark a strong support zone in which the BNB price is currently located, but when it falls below this zone, the next support is at $ 233. Looking the other way, we can also mark the places where the price should encounter resistance on the way to increases. And here we have the first strong resistance at the price of $ 249, and then it is worth marking a very strong resistance zone from $ 257 to $ 262, only when the price breaks out of it and then positively tests, we will see further increases. The CHOP index indicates that the energy has been used. The MACD indicator maintains an ongoing downtrend. On the other hand, on the RSI we have a strong rebound to the lower part of the range, which creates room for a future price increase, but it is worth being careful because there is room for the price to go a little lower.
by cryptodailyuk
BNB - Head and Shoulders on the 4H TF* BNB is still stuck in a range between 220 – 250 USDT. * Currently, it looks as if BNB is forming a Head and Shoulders pattern on the 4H TF. The neckline is at the 242 USDT Level. * The target for the Head and shoulders is 225 USDT. However, there is a daily demand zone between 231 – 236. I think it is possible for this demand zone to hold BNB’s price from further deterioration. * If you are inclined to short BNB, wait for a retest of the neckline as resistance. NFA. What do you think? Please share in the comments. Best Wishes.
BINANCE:BNBUSD.PShort
by NewThoughtCrypto