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BNBBTC trade ideas

BNBBTC Binance Breakout Altcoin Buying Trade & InvestmentBNBBTC (Binance Token) is breaking out and likely to go on a multi-months run, a great opportunity to multiply our BTC holdings. Today I'd like to analyze the trading pair BNBBTC and make the case that Binance Token is at the beginning of a major bull run. BNB is the token native to the Binance exchange, and is used for trading fees and participating in IEOs (initial exchange offerings) for projects on the Binance Launchpad. In the current bull run, many altcoins have had huge runups, increasing by 5x, 10x, 50x, 100x or more relative to Bitcoin. BNB is among a handful of well established tokens that haven't had a visible run against Bitcoin. Fundamentally, there are a number of developments that are in favor of BNB starting a bull run and catching up with the rest of the altcoins: 1. Google trends are showing a spike in the search term "buy altcoins", suggesting a renewed retail interest in altcoin speculation, with a new wave of newcomers into this space. While DEX (decentralized exchanges) have seen huge progress in the past couple of years, centralized exchanges, especially Binance, is still a go-to exchange for most, especially amongst those newer to the crypto market 2. Binance is making moves to cash in on the successes of Defi (Decentralized Finance). Binance will launch a DEFI/USDT composite index perpetual contract at 2020/08/28 7:00AM (UTC). This index consists of a basket of Defi protocol tokens listed on Binance, and traders can leverage up to 50X. This is sure to bring increased interest and trading volume to Binance, hence increasing the demand for BNB to use for paying trading fees to save on trading fee costs. 3. Upcoming Binance Chain Mainnet upgrade that will support new business logic such as BNB staking, cross-chain transfer, and on-chain governance. This upgrade should have a positive impact on BNB, both from a news/hype perspective, but also more importantly, from a long-term fundamental standpoint. Technically speaking, there are a number of indicators showing that BNB is ready to start a run: 1. Price has broken out of a downward resistance trendline and retested the backside of this trendline on two occasions, and on both occasions, price has bounced off of the trendline, suggesting the resistance has now turned to strong support. 2. Price has closed strongly above the 200MAs just as the 200MAs has flattened, suggesting an end to the downward trend and a shift in momentum from the bears to the bulls 3. Yesterday's candle was a very bullish full body green candle, accompanied by above average volume, suggesting conviction behind the bullish move and likely continuation 4. The 3 targets on the chart are short-to-medium term targets. I believe the pair will run much higher than the 3 take profit targets laid out on the chart. Let me know in the comments below of your thoughts on BNB. Hope this analysis has been helpful in summarizing the opportunity in BNB, from both a fundamental and technical perspective. This is not financial advice, please do your own Due Diligence. I'm just sharing my personal trades. I will be posting ideas on a daily basis (whenever there are trade setups that meet my criteria). Please follow, like, and comment to get daily trade setups and live trade updates.
Long
by cryptotraderog
BNBull or BNBear??BNB has been in a bear-trend since its massive rally to ATH's in early 2019 when it reached 48134sats. On the way down price lost the Weekly Supports of 33000sats and 26555sats, however the Weekly Support of 16800sats has held strong since first being tested in March this year. Price is now testing the downtrend identified on the Weekly TF which runs from ATH and the swing high of June 10th 2019 Weekly candle. If price were to close above this trend-line I expect it to test 22841sats Weekly Resistance at least with the Weekly resistance of 26555sats being my next target. If the trend-line were to remain unbroken then price would be forced to break the 16800sats Weekly Support and test the Monthly Support of 12472sats.
by UnknownUnicorn3942995
Don't miss the great buy opportunity in BNBBTCTrading suggestion: ". There is a possibility of temporary retracement to suggested support line (0.00204). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . BNBBTC is in a range bound and the beginning of uptrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 59. Take Profits: TP1= @ 0.00230 TP2= @ 0.00260 TP3= @ 0.00299 TP4= @ 0.00354 TP5= @ 0.00439 TP6= @ 0.00472 SL= Break below 0.00200 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity
26
BNB local work. Diamond. From January +61, +70, +125, +9, +61%BNB / BTC local work. After the break of the main downtrend line, a local uptrend developed and a diamond pattern with a base of 20% was formed. The price held above the downtrend line, which is a good sign. This formation may become the ultimate trend reversal pattern. Entry towards the breakout of this formation. Past trading ideas for this BNB / BTC pair that are relevant, but more on a global scale. BNB / BTC Accumulation channel. Trend reversal zones Coin operation. Profit + 23% BNB/BTC Breakdown of the downtrend. Past ideas +23 13 58 70 125% The BNB / USDT trading idea is positional work on a global scale. BNB / USDT Channel Up. Cycle. Wedge. Reversal zones. Published in January. Long + 61% Short + 70% (the price fell below, but the last targets were in this zone). Long + 125% Short + 9% Long + 61% (the trend continues).
by SpartaBTC
10