BNBUSD (4H) - Bearish reversalHi Traders
BNBUSD (4H Timeframe)
Waiting for the downward break of 307.30 support level which will complete a bearish trend reversal pattern to go SHORT. Only the upward break of 326.00 would cancel the bearish scenario.
Trade details
Entry: 307.30
Stop loss: 326.00
Take profit 1: 295.75
Take profit 2: 277.05
Score: 4
Strategy: Bearish reversal
BNBBEARUSD trade ideas
📉⚠️🔻 BNB Alert: Eyeing -30% Drop 🚨💥🌪️📉 Gather around, brave short sellers, for a tale of market turmoil and thrilling opportunity in the realm of cryptocurrencies! 🌐✨ In the shadowy depths of the crypto world, a storm is brewing, a tempest named "BNB" (BNBUSDT). 🌩️📊 According to the ancient scrolls of the three-weekly charts, this once mighty digital titan has encountered a formidable resistance point, a dark omen foretelling a spine-chilling 30% descent into the abyss of market value. 💸🔻
Imagine, if you will, the crypto landscape as a vast, tumultuous sea. 🌊 BNB, a majestic ship, once glided smoothly upon these waters. But now, it faces the wrath of an unseen, monstrous wave, ready to engulf it in its terrifying embrace. 🚢🌊
But fear not, for in every story of doom, there lies a hidden path to glory! 🌟🔥 As the market quivers in anticipation, a door creaks open, revealing a path lined with golden opportunities for the daring short sellers. 💰🚪 Now is your moment to don the cloak of courage and wield the sword of insight. 🛡️🗡️
👁️🗨️ Keep your eyes peeled on the ever-shifting tides of the market. Be the eagle that soars above the storm, watching and waiting for the perfect moment to strike. 🦅⏳ When BNB begins its fateful plunge, leap into the fray with your short positions, and ride the wave of its descent to a treasure trove of profits. 💹🔥
In this chaotic dance of numbers and charts, remember: the greatest victories are often hidden within the folds of fear and uncertainty. 🎭🏆 Embrace the chaos, harness the power of the storm, and transform the fearsome winds of change into the winds of fortune. 🌪️💫
So, brave adventurers of the financial seas, set your sails for the tumultuous waters of the crypto market. In the heart of this maelstrom lies your chance to emerge not just as survivors but as victors, legends of the trading world! 🚀🌌🏅
Technical Analysis Of BNBUSDTaking a look at this market we are coming from a bullish impulsive move followed by a larger correction which is outlined by the trendlines. Our correction acts as a continuation pattern meaning the previous move we were coming from is more likely to be repeated so overtime we can anticipate a bullish move on BNBUSD. Taking a look at the current market within the larger correction we can anticipate BNBUSD to form a double top in the last correction therefore we can go short.
BNB Rallies As Binance Announces NFPrompt (NFP) on LaunchpoolBinance has launched NFPrompt (NFP), an AI-driven project for Web3 creators, offering staking opportunities with CRYPTOCAP:BNB , FDUSD, and TUSD.
The world’s largest cryptocurrency trading platform Binance on Tuesday announced its 41st project on Binance Launchpool with the launch of NFPrompt (NFP). The move has caught the attention of the crypto community, as the platform offers a unique opportunity for users to farm NFP tokens by staking BNB, FDUSD, and TUSD.
Farming NFP Tokens: A Unique Opportunity for Crypto Enthusiasts
According to a statement released by Binance, NFPrompt ( NEWCONNECT:NFP ) is an AI-powered User Generated Content (UGC) platform that promises to benefit Web3 creators. Come December 20, 2023, users will be able to stake their BNB, FDUSD, and TUSD in separate pools to farm NFP tokens over 7 days.
Binance has unveiled plans to list NFP on December 27, 2023, at 10:00 UTC, offering multiple trading pairs, including NFP/BTC, NFP/USDT, NFP/BNB, NFP/FDUSD, NFP/TUSD, and NFP/TRY. The listing is expected to boost the liquidity and accessibility of NFP tokens in the broader crypto market.
Binance Launchpool Fair Mode reflects the platform’s commitment to safeguard and augment the interests of the community and retail users. This model ensures a more equitable distribution of tokens during the initial circulation phase and aims to reduce inflation pressure by preventing some allocations from entering circulation.
Launchpool Token Rewards and Staking Terms
The total token supply for NFPrompt is capped at 1 billion NFP, with 11% (110 million NFP) set aside for Launchpool token rewards. Initially, only a fourth of the total tokens will be in circulation. As per the staking terms, a KYC verification is mandatory, in addition to hourly hard caps per user for each pool.
Post Binance’s announcement, the CRYPTOCAP:BNB price rallied over 5% to $251, indicating that the overall market sentiment around the project is positive. The uptick also highlights the growing interest in innovative projects within the crypto space, especially the ones underpinned by AI, and that focus on content creation in the Web3 landscape.
Continue Bullish MarketHello!
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BNB Ready For Take Off, If It Crosses This Level!9% Jump in Five Days: BNB (Binance Coin) has seen a 9% increase in the last five days, indicating a shift towards bullish momentum.
Rounding Bottom Reversal Pattern: BNB is forming a rounding bottom reversal pattern with a crucial neckline at $258.
Potential Bullish Breakout to $292: A successful breakout from this pattern could propel BNB towards $292.
Binance's Resilience Amid Regulatory Affairs: Despite facing significant legal challenges, Binance continues as the world's largest crypto exchange by volume.
Overall Market Recovery Influencing BNB: The recent market recovery is positively impacting BNB's price, suggesting a continuation of the bullish trend.
Parabolic Growth Post-Crash: After reverting from $220, BNB shows parabolic growth, targeting the resistance at $268.
Approaching 38.20% Fibonacci Level: The potential breakout aligns with the 38.20% Fibonacci retracement level, signaling a robust bullish rally.
Trading at $249: BNB is currently trading at $249, approaching the key psychological mark of $250.
Golden Crossover in Daily Chart: A golden crossover in the daily chart reinforces the bullish trend.
Technical Indicators - Bollinger Bands and MACD: Bollinger Bands indicate an uptrend, while the MACD shows a bullish crossover.
Challenge at $258 Neckline: The $258 level is a pivotal point for BNB's price trend.
Potential Upside to $300: If the market recovery continues, BNB could surpass $258 and potentially reach $300.
Risk of Retesting $241: A reversal could lead to a retest of the 200-day EMA at $241.
Is Binance Coin (BNB) Set to Smash All-Time Records?Hello traders,
Here's an update on BNB using a weekly timeframe chart. BNB is expected to rally 250% soon which will be close to its ATH. That's the minimum rally we can expect as a mid-term target. For a long-term target, BNB has a long way to go. I am anticipating a breakout soon on BNB and also keeping in mind the $200 support that is still holding on strong.
Regards,
Team Dexter.
BNB at critical junctureBNB is coming to a close on this descending triangle which is typically seen as a bearish structure. Depending on the price action we see, whether the descending line is broken to the upside for a bullish trade or the horizontal line breaks for a bearish trade, it could signal where the overall market could be heading over the next 12 months given the positive correlation across crypto.
Considering the recent price action and weakness in BNB relative to Bitcoin along with the CZ fiasco the probability of a downside break seems likelier. Watching closely to see how price action unfolds.
Binance coin (BNB) to $40On the 2-day chart above price action has increased over 3500% since the 2-day life cross in September 2020. A number of reasons now exist to be bearish, including:
1) The ‘incredible sell’ signal.
2) 2-day Death cross
3) Broken market structure.
4) Double top bearish divergence (8-day chart below)
5) A significant majority of ideas on tradingivew are long.
Is it possible price action rises further? Sure.
Is it probable? No.
A short from $340 is excellent.
Target $40
Ww
8-day double top divergence
BNBUSD-Sideways/Ranging BNBUSD was in bullish trend. after appearance of bearish divergence, the instrument printed LH and LL, and after that the instrument enters in sideways/ranging and moving in a box type range. the best strategy to play with ranging instruments is to buy at support and sell at resistance. both buy limit and sell limit orders can be initiated to get the maximum benefits from the ranging market.
BNB Bearish Liquidity Buildup The trend has changed with the liquidation of the structural low on the 4h chart, which indicates a bearish momentum
There is a clear trend line that has stop losses above it so the price might take it out first in order to continue bearish.
Equal Lows formed a Support zone on the 4h Chart which has stop loss liquidity below it.
BNB can have a reaction from either of the Supply Zones noted on the chart.
The overall Daily Bias is Bearish
Cryptocurrencies in a bullish marketGreetings, dear friends. I hope you are having a productive week.
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Keep trying and never give up.
Good luck!
Troubled Binance takes a toll on BNBUSDThe recent turmoil engulfing Binance, the world's largest crypto exchange, has cast a shadow over its proprietary cryptocurrency, Binance Coin (BNBUSD). The upheaval was triggered by the unexpected resignation of Changpeng Zhao amid his confession to criminal wrongdoing (facilitating money laundering) and the announcement of a hefty fine for the exchange, amounting to $4.3 billion. These developments resulted in a nearly 20% drop in the value of BNBUSD (in a matter of less than a week). With RSI, Stochastic, and MACD all turning increasingly bearish on the daily time frame, the situation does not look like it will improve anytime soon. Therefore, to further bolster a bearish case, we would like to see the mentioned technicals continue to decline and BNBUSD break below Support 1; without any significant support below this level, we think there is a good chance for BNBUSD to drift toward $200 (after a breakout). Consequently, we will monitor the situation in the following days and update our thoughts on the asset once new developments arise.
Illustration 1.01
Illustration 1.01 portrays the daily chart of MACD that is crossing below the midpoint, strengthening a bearish case going forward.
Technical analysis gauge
Daily time frame = Bearish
Weekly time frame = Bearish
*The gauge does not necessarily indicate where the market will head. Instead, it reflects the constellation of RSI, MACD, Stochastic, DM+-, ADX, and moving averages.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for an individual investor to take any trade action. Therefore, your own due diligence is highly advised before entering a trade.