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BNBUSD trade ideas

Binance Coin: overbought is near It was a positive week for BNB, as the positive market sentiment pushed the price to the level of resistance at $300. The last time when this level was tested was at the beginning of October this year. Highest level reached during the week was $308. On a positive side is also that the $250 support line has not been clearly tested since August this year, showing that the market was clearly set to the upper side. During the week RSI reached level of 70, which is a clear overbought market side. After this, it could be expected some short reversal to the downside. Moving averages of 50 and 200 days are quite modestly converging toward each other, still postponing the golden cross. BNB will start a week ahead by testing the $300 resistance line. Considering that the RSI had reached a clear overbought side, there is high probability for a short reversal. In this sense, $270 might be a short term target. The prevailing buying orders would certainly seek the higher grounds. In case that $300 resistance is clearly breached to the upside, it will open a path toward $330. Current charts are showing that there is some probability for such a move in the coming period.
BINANCE:BNBUSD
by XBTFX
Binance Coin: decreased trading volumesIn line with the general market sentiment, BNB was traded flat for the last two weeks. But, compared to the week before, last week BNB`s coins in circulation decreased by 0.8%. This is not at all something that is usual when BNB is in question, but it shows a sort of reluctance among investors to make bets at this moment. The price of BNB was moving from $275 at the beginning of the week, down to $264 only on one occasion. The coin is ending the week around level of $270. RSI is still not ready to head toward the overbought side of the market, as the indicator was moving between levels of 48 down to 42. Moving averages of 50 and 200 days continue to move as two parallel lines, without indication that the golden cross is in store within a short future period. Markets are currently watching macro fundamentals, in which sense, the majority of the crypto market is set aside from their view. Significantly decreased daily trading volumes support this standing. In this sense, it could be expected for BNB to continue to move within a previous range, in a mid of the $300 resistance and the $250 support line. At this moment, there is no market strength to push the coin price to either side.
BINANCE:BNBUSD
by XBTFX
Binance Coin: pressure to downsideAfter not being able to clearly break the $300 resistance line during the previous few weeks, it was expected that the price of BNB would revert a bit to the down side. On the other hand, currently significantly decreased trading volumes on the crypto market, made an impact for BNB to be traded in a very short range during the previous week, between levels of $267 and $277. Such a short range is not quite common for BNB, but was influenced by general reluctance of investors to place their orders. The price of BNB reached a level of $255 on Friday, after the release of the US inflation data. It was a short and immediate market reaction to fundamental news. Although the market soon returned to previous levels, it still shows that traders are currently more oriented toward the downside. RSI remained relatively flat, moving in a range between 46 down to 40. Moving averages of 50 and 200 days are still moving as two parallel lines with a clear down trend. The golden cross is still on hold. Due to an unstable macroeconomic situation, the market is still on hold. In this sense, strong market moves are generally not expected. Still, what is evident with BNB but also many other coins on the market is that there is pressure to the downside. In this sense, there is some probability for BNB to head toward the $250 support line, as charts are clearly pointing at this level for a few weeks now. On the opposite side, there is some probability for BNB to revert shortly to the level of $280, but at this moment, charts are not showing that there is potential for $300 in the week ahead.
BINANCE:BNBUSD
by XBTFX
1
Binance Coin - a growth perspective to resistanceAfter successful withdrawal of liquidity and realization of purchases in the zone of interest, the buyer gained a position. But a test of purchases is possible. At the moment, the chart is aiming for the resistance level. The following scenario is possible: after the resistance zone the price will leave to test the buyer, then there will be a logical completion of this formation to open a long position. If you liked the idea, give it a like. That's the best "Thank you!" for the author 😊 P.S. Always do your own analysis before a trade. Put a stop loss. Fix profits in installments. Withdraw profits in fiat and make yourself and your loved ones happy.
BINANCE:BNBUSD.P
by Artem_Dishel
1
Binance Coin - want to see a healthy resumption of purchases.After the lack of demand at the upper limit of the rand, the price has gone to test the buyer. On a downward move, all supply is absorbed by a strong player. For a further move, you want to see a flat with an exit into a trending move. If you like the idea, give it a like. That's the best "Thank you!" for the author 😊 P.S. Always do your own analysis before a trade. Put a stop loss. Fix profits in installments. Withdraw profits in fiat and make yourself and your loved ones happy.
BINANCE:BNBUSD.P
by Artem_Dishel
3
Binance Coin: slowing downSince the beginning of August this year, BNB was testing the $300 resistance line, but without market strength to clearly break this level. Same situation was during the previous week. Another attempt, without success, due to general market reluctance to enter into riskier assets due to an unstable macroeconomic environment. During the week the coin was moving between levels of $278 up to $300. RSI indicator tried to head to the upside, but at 62, the indicator reverted to the downside and to the level of 50. There is still no indication that the market is ready to head toward the oversold side. Moving averages of 50 and 200 days continue to move as two parallel lines with a clear down trend. The golden cross is certainly not in the store for some time in the future. Current charts, which are dominated by the significantly decreased daily trading volumes, indicate a potential for $250 to be tested for one more time. However, whether that will occur during the week ahead, is unclear at this moment. Small daily trading volumes would certainly not have the strength to drag the market to either side. In this sense, there is currently a high probability that BNB will continue to move in a relatively flat way, probably between $260 and $300.
BINANCE:BNBUSD
by XBTFX
BNB long I would rather look for long than short on BNB.i was not able to cought BNB short. I was stopped out. My idea was to counter trade the trend, to at least take my short to a discount zone. The price action we see today was influenced by the announcement that the Binance chain has been exploited, which we as technical analyst know where the price will probably reverse. The reason for this dump is the sell stops which has been put below the short term low being triggered, therefore, the market was flooded with sell orders. This dump will surely short live. I will be looking for an entry around 282 and my sl will be around 278. if I got stopped out I will looking at the 270 or 268 for possible reentry.
BINANCE:BNBUSD.PLong
by Hydara_Futures
Binance Coin (BNB) - will the buyer bring the case to its logica A coin that wants to appear stronger than the market. On the daily timeframe we see a reversal formation. No offer, zero point spring with a test and subsequent transition into a trend movement. It looks interesting, observe. If you liked the idea, please like it. That's the best "Thank you!" for the author 😊 P.S. Always do your own analysis before a trade. Put a stop loss. Fix profits in installments. Withdraw profits in fiat and make yourself and your loved ones happy.
BINANCE:BNBUSD.P
by Artem_Dishel
3
BNB - potential mid-term uptrend continuationHello, The biggest and most popular exchange token continues to be relatively stable compare to the rest of the Top 10 coins. Moreover, the technical analysis on both the daily and weekly timeframes favors a potential uptrend continuation. The BNB/USDT pair closed the previous seven-day period at the mid-term diagonal resistance on the 1W chart and a breakout confirmation this week, combined with the fact it bounced back perfectly from the $260 support and completed a Bull Flag consolidation, might result in a 20 percent jump to the next resistance area (from the current price levels). This of course is if BTC and the overall markets condition does not worsen and supports a broader market relief rally instead. Additionally, the zone right below $300 is where the 21-period EMA and the last lower high sits, which can easily turn to be a rejection area for bulls. Regards
BINANCE:BNBUSD.PLong
by FutureBlockchain
Binance Coin: eyeing $250?Due to general negative macroeconomic sentiment, markets spent the previous week in a relatively flat mood. In such an environment, BNB could not make any significant move to either side, instead, the coin was holding close to $300 resistance, but far away from the $250 support line. The price range in which BNB was traded was relatively tight, moving between high-low spreads of $289 - $266. During the week RSI managed to cross the line of 50, but remained around this level. The markets are still not ready to decide on the future price trend. Moving average of 50 days has diverted from MA200 counterpart, postponing the timing of potential golden cross. Market insecurity over general trend is supported by central banker’s rhetoric on further liquidity squeeze from markets. This could further impact short price moves. Current charts are pointing that $300 resistance might be clearly tested for one more time in the coming period. There is also an equal probability for BNB to head to the downside and clearly test the $250 support line.
BINANCE:BNBUSD
by XBTFX