Binance Coin: short recoveryAs of the end of the last year the price of BNB was strongly affected by the news of potential involvement of Binance exchanger in the FTX collapse. The dust is still on the market, however, BNB is slowly recovering from the news. It was a relatively good start of this year for this coin as it managed to make a move toward the higher grounds, from levels of $250 support line up to $260. Trading volumes are low, but still, buying orders continue to be prevalent on the market, which is positive for the coin.
With the latest market moves, RSI was pushed from levels of 41 up to 53, which indicates that the market is set toward the overbought side. Moving averages of 50 and 200 days are slowly diverging from each other, after lines made a clear cross as of the end of December last year. The trend change was affected by the recent negative news, hence, it still needs to be confirmed on the charts.
Considering that the markets are still on holidays, low trading volumes might continue for another week. In this sense, some significant moves might not be expected. Current charts are showing a potential for the price of BNB to reach higher grounds, but at this moment, $300 resistance line might be too optimistic. On the other side, support line at $250 might be shortly tested for one more time.
BNBPERP trade ideas
BNB on Thin Ice!Hi all,
In this outlook on the BNB token I have added the BOP.
The BOP shows the net buyers vs net sellers in real time.
And as we can see the primary BOP is inching towards my critical level and if broken only see thinks braking for the BNB price.
For more info please read my BNB idea linked bellow.
tools used:
EMA/MA's
trend based fib
fib retracement
colour coded rectangles
faces to show my view on emotions
question marks
exclamation marks
arrows and crosses
As always Invest smart, risk small, question your trades.
"capital loss if more hard felt than capital gained"
Crypto Leonard
P.S. This is NOT finantual advice, one must do there own research.
Stay safe.
Is the collapse of BNB in sight!Hi all,
In this analysis I will be going through the BNB token by Binance.
I do a top down from the monthly charts to what you see here.
Tools I use:
Time based fib extensions Fib retracements Rectangle colour coded
With the emergence of Binance many have come to see as a safe place for their crypto but what country owns it?
As far as I'm aware it belongs to Malta an island in the Mediterranean Sea and CZ as its overlord would you trust CZ with your hard earned capital on a small island?
Now I have nothing against CZ by any means but questions should be asked.
With many countries blocking access to the platform I ask myself why?
I have come to the conclusion that the powers that be do not want another that has no loyalty to them but to itself only aka Binance or CZ.
With the price teetering on the edge it would appear the BNB token has a very fragile base and if it gives way it will fall.
My estimated target would be $30.00 yes that's right, $30.00!
With those who bought BNB back in May of '2021 they are now experiencing pain and sadness not knowing what is around the corner.
With the rejection of the $340.00 area I'm expecting the floor to give way and price to crash to my $30.00 target area.
With price under the 200 ssma and now the 50 ssma the price is doomed to fall unless it regains the 50 ssma.
Okay guys/gals be carful out there.
This is NOT financial advice just my personal opinion.
Be smart, Invest with caution.
Crypto Leonard.
BNBUSD Strong break-out yesterday but critical 4H MA200 test nowThe Binance Coin (BNBUSD) has had a major bullish break-out yesterday as it broke above the Lower Highs trend-line that was in effect since November 05. At the same time it crossed above the 4H MA50 (blue trend-line) but is so far being rejected on the 4H MA200 (orange trend-line).
This is a critical test as BNB has almost completed a full month of trading below the 4H MA200 and failure will invalidate yesterday's bullish break-out bias and could reverse investor psychology back to bearish, selling to the 4H MA50 short-term and 240.00 medium-term.
A break above the 4H MA200 however, with the 1D MACD on a Bullish Cross, should start testing the upper Fibonacci retracement levels: 0.382 at $274, 0.5 at $290 and 0.618 at $307.
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Financial Wave. Binance coin(BNB)BNB is one of the few coins that we see as having a high potential for the future and we thought it would be interesting to see how it develops in a wave pattern.
Our priority scenario in Binance Coin is the development of wave 3, which can take the price to $299 and above. BNB falling below $240 will change our markup.
Binance: One step at a time 🍼Although we're expecting Binance to shoot towards the sky and exceed the resistance line at $398.40, our beloved coin is still moving sideways and taking baby steps. Imminently, Binance should pick up the pace and head into the pink target zone between $567.20 and $781.70 to complete the pink wave (3). If the coin continues to slack off, it might end up in our alternative scenario, where it would fall below the support line at $183.40. Within the green target zone, it should finish off the grey wave alt.II before heading back North.
BNB/USDT. For bullish movement we need to secure the outside zone of that triangle formation
Breaking this line would result the price to go to lower level which would also make the Double Bottom pattern where we would be waiting for some kind of bullish movement
BitVero Crypto Academy.
Disclamer:
We are not financial advisors. The content that we share on this website are for educational purposes and are our own personal opinion
$BNB Still to Fall -70%+While both BITSTAMP:BTCUSD and BINANCE:BNBUSD have corrected substantially from the crypto highs...
The big difference is that $BTC has already reached the level at which it historically bottoms.
Meanwhile, $BNB still has another -74% to go before it can settle.
Can BITSTAMP:BTCUSD drop from here? Sure. Especially with a fall in BINANCE:BNBUSD . This is one of the main reasons I'm not looking for any bottom until BINANCE:BNBUSD gets resolved.
BNB Price Update: Inspecting a Rare Flat Corrective PatternBinance Coin's (BNB) weekly chart printed a long-term corrective flat pattern following the sell-off from May 2021 all-time high. This is rare corrective pattern, so let’s review this pattern and why $200 is the most significant BNB support level.
BNB Regular Flat
Based on the Elliott Wave theory, a flat pattern is a 3-wave corrective pattern with a 3-3-5 internal wave structure. Down from the all-time high of $704, wave A ended at a $211 swing low, and the corrective wave B ended at a $696 swing high.
Third wave C has been unfolding down from the $696 swing high in what is almost always a 5-wave structure. Here we can note an exciting price development: while wave C already extended beyond the wave A low, the internal subdivision only shows 4 waves.
Usually, the last wave in a 5-wave sequence breaks beyond wave 3, but sometimes the fifth wave fails to move beyond wave 3 in an anomaly known as a truncated fifth wave. This makes the whole BNB corrective pattern extremely rare.
BNB Support Level
The $200 level plays a major role in the whole flat pattern because, on a weekly closing basis, both wave A and wave C couldn't break below that level. While wave C extended towards the $183 low, it could not break the $200 support.
In the short term, as the price approaches the apex ($200 support level), the 20-month corrective pattern may be near its completion phase.