Binance Coin (BNB) = HUGE Breakout Potential (32% Gain)Hello Everyone,
Here's a chart I drew up for our lovely Binance coin (BNB). Overlooking the daily charts we can see we created a new high from the previous lower lows. With a very large amount of buying volume, we have sustained and are looking to form a beautiful bullish flag. We have been consolidating for the past few weeks and as we approach our resistance we are tightening with higher lows. I do expect us to breakout and reach our designated targets. Stop loss set tight. Currently sitting at $12.35, I am LONG at $12.10.
Binance coin (BNB) "Recently"
"Every quarter, we burn 20% of our profits in BNB. We just burned 2,220,314 BNB (roughly $30,000,000 USD), making our quarterly profit $150m USD. In USD terms, it is a little less than last quarter. In BNB terms, it is more. This makes sense. The older Binancians have pretty much figured this out even before today. BTC price and trading volume (as a rough overall indicator of the industry) have decreased compared to last quarter. As an exchange, we collected less in commissions in fiat terms. But because BNB price was also lower during parts of the quarter, we collected more BNB. This is the designed effect for our token economics. When the price is lower, BNB will be burned more quickly." -CZ
The house usually if not always wins, I see long term growth for this coin.
I have 3 Targets in mind for our run up over the next few weeks.
Target 1: 13.50 (11.5%)
Target 2: 14.29 (18%)
Target 3: 16.00 (32.2%)
Stop Loss: 11.50
I am not a financial advisor. I am not responsible for any loss/profit. However I am entitled to my own opinion, hit that like button if you agree with me!
I am also open to new ideas and perceptions so if you have anything good to implement post it up!
