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Binance Coin: $350 continues to be a targetDuring the previous week BNB continued its recovery from the push to the downside two weeks ago. Coin managed to reach its highest weekly level at $337, however, on Thursday`s trading it reverted to the downside and finished the week at levels modestly above the $300 support line. Certainly during the week the coin was supported by Binance Coin`s further expansion to Italy, after France, Bahrain and Dubai. What caused this push to the down side, is still unclear. What charts are currently suggesting is that the $350 resistance line continues to be a target for BNB in the coming period. RSI is clearly showing that the coin started its reversal to the overbought market after BNB reached a clear oversold market two weeks ago. During the week the indicator reached level of 50 and finished the week modestly below this level. At the same time moving averages of 50 and 200 days are continuing their downtrend as two parallel lines. There is still no indication over a potential cross in the near future. Technical indicators are clearly showing that there is potential for BNB to test the $350 resistance line in the coming short period of time. Coin is currently testing a $300 support line which will continue to do during the first days of the following week. There is currently decreased probability that this line might be breached to the downside. Only in case of potentially negative market fundamentals, price might revert to the downside, in which case the path toward the $250 support line will be open. Disclaimer: This article provides exclusive views of the author. It does not in any sense represent a suggestion for trading.
BINANCE:BNBUSD
by XBTFX
BNB/USD UPDATE: CAN REACH $250.Hey guys, welcome to this BNB update in daily TF. BNB is possibly going to reach the lower support range ($250) in a daily TF and then bounce back. This could be a good buying range if you are thinking of entering into BNB. There is also a possibility that BNB will rally towards $400 from the current level or slightly below it. But that will happen only if the market takes a bullish turn and as per the current market scenario, the bear is leading. So, do keep your eyes on BNB and trade safely.
BINANCE:BNBUSDLong
by Dexter_The_Trader
2
Binance Coin (BNBUSD): Very Bearish Outlook! Here is Why: Binance coin is trading in a bearish trend this year. After a sharp bearish move, the market retraced to a solid daily resistance. Growing steadily within a rising parallel channel on 4H, the price broke its support line once the underlined zone was reached. I believe that the coin will keep falling now. Goals: 297 288 ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
BINANCE:BNBUSDShort
by VasilyTrader
7
BNB: INDEED A PERFECT BOUNCE.Hello traders and welcome to this BNB update once again. If you are new to my community then a warm welcome to you on behalf of all my members and professional traders. In this community, I share updates related to the crypto market including margin trading, futures, spot, and scalping. My comments box and DMs are absolutely free for new ideas and suggestions. So, feel free to interact and share your ideas. You can be a professional trader, a noob, or anything, we are all here to learn and I believe that we can help each other. Alright, then, let's get back to the chart. BNB broke out, retested, and bounced back successfully. I am expecting a rally towards $400 soon. Meanwhile, BNB may drop a little close to $325 (which will be a good entry position) and gradually rally higher. The support line is at $320 and BNB must hold this level. I am still holding my 50% position on BNB and will accumulate more if it dips. Trade setup: Entry: $320 to $326 Stop loss: $300 Target: $360, $380, $400. Trade safely.
BINANCE:BNBUSDLong
by Dexter_The_Trader
BNB: A PERFECT BOUNCE OR A FAKEOUT???Hello and welcome to this BNB update in 3 hours TF. If you are viewing my post for the first time then do not forget to like and follow. I share updates on the crypto market including margin trading, futures, spot, and scalping. All ideas are my biased opinion and I invest at my own risk. I don't force anyone to buy or sell, I simply share my ideas absolutely for free and it is your sole decision whether to trade on them or use them to understand the market. BNB has formed an ascending triangle pattern which usually is a bullish pattern. BNB broke out, retested, and currently bouncing back perfectly from the support level. Is this a bullish confirmation? To some extent, yes, it is a bullish confirmation but considering the dominance and BTC price movement, it is always wise to wait or trade with a close SL. I am already long on BNB at around $305 and I will continue to hold it until it breaks down below the ascending triangle support level which is at my entry-level. On the other hand, if BNB is bullish then we can expect a rally up to $350 to $400. What do you think about the current price movement on BNB? Let me know in the comments. Thank you, guys, for your support.
BINANCE:BNBUSDLong
by Dexter_The_Trader
BNB: BOUNCING BACK FROM THE SUPPORT.Welcome members to this update on BNB/USD If you are viewing my post for the first time then do not forget to like and follow. I share updates on the crypto market including margin trading, futures, spot, and scalping. All ideas are my biased opinion and I invest at my own risk. I don't force anyone to buy or sell, I simply share my ideas absolutely for free and it is your sole decision whether to trade on them or use them to understand the market. BNB is under the falling wedge pattern and it has exactly bounced back from the lower supporting trendline. It is possible that this bounce could lead the price back to the $370 to $380 range. Here's a strategy I am using. 1st buying range- $300 to $310 SL: $290 Target: $330 to $340 (If the price gets rejected). 2nd buying range- $250 to $270. SL: $235. Target: $320 to $340. Note: This trade setup is on a daily timeframe so do not consider this as a short-term or scalping trade. This trade will be on spot and if you want to use leverage then make sure it is either 2x or 3x.
BINANCE:BNBUSDLong
by Dexter_The_Trader
Binance Coin: is $350 the next target?Two weeks ago BNB had a challenging week where the price of the coin was pushed strongly to the downside and to the $250 support line. Soon after the oversold market was reached, BNB started its clear reversal path. However, considering the still challenging market environment driven exclusively by fundamentals, the recovery path might not be so swift as BNB usually does. Still, what continues to be positive about BNB is that this coin usually does not follow general correlation with the market, as we have seen again during the previous week. With the start of a short term reversal, BNB started challenging the $300 resistance line. During the week there has not been enough market strength to push the price to the higher grounds, so the highest level reached was $313. Still, the coin is ending the week with prevailing buying orders, but with relatively lower daily trading volumes. RSI moved from oversold market up to the level of 43, still holding this up move, which indicates that market is within a course of short term reversal, with strong potential that it will continue this move. However, moving averages of 50 and 200 days are taking downtrend, with MA50 moving away from its MA200 counterpart. Technical indicators are pointing to the potential that BNB might head toward the next resistance line at $350 to test it in the coming period. At this moment it is clearly pointed on the charts. However, in case that fundamental news hits the market during the week, it could be expected that BNB will return back to the level of $300 support. Disclaimer: This article provides exclusive views of the author. It does not in any sense represent a suggestion for trading.
BINANCE:BNBUSD
by XBTFX
BNB/USD: short positionI see a short position in Binance coin right now in H4 timeframe. Also, I will keep this trade until $206 USD, that will be my psychology target profit for this cryptocurrency. Also to share in my analysis, I see that MACD indicator make in the bar chart a higher low in the indicator indicating weakness in the market and also, continue the bearish trend. Depending how the Daily candlestick closed up today, if closed up bearish signal, it's a good potential to short BNB in this timeframe and follow the trend toward $206 USD. I will replace this rade for Oil price that drop and got some loss in my trade and swing trade, for that, I decide to closed up as I know that Oil will crash to $100 USD. Good luck!!!
BINANCE:BNBUSDShort
by harisonhbn9718
1