All Eyes On The Binance Coin, Join At Your Own Expense.BINANCE:BNBUSD
Looking at the 1Week timeframe, a more responsible timeframe to start a top down analysis on a cryptocurrency pair, the last long green candle evolves from the last created support leaving a fair value gap behind, thereby making that very support zone a valid one. Filling the gap to the demand zone is just the work of the sellers and can be seen as the pullback.
In other words, a lower timeframe is required to see clearly the structures produced by the buyers, ofwhich placing your entry on the last created structure and your stop loss slightly below the higher low minimizes your risk and maximizes the return. An instance on the 4Hr timeframe of BNBUSD, same timeframe where the liquidity is clearly visible as well, when the pullback breaks through the trend line(liquidity) into the demand zone, the uptrend just irresistibly continues until it makes a new higher high.
BNBUSD trade ideas
BNB Price Analysis: Potential for Significant GainsBinance Coin (BNB) has recently shown strong upward momentum, reaching $614. This rally has sparked speculation that BNB could rise even further, potentially reaching between $700 and $1,000.
Key Factors:
1. Recent Rally: BNB surged to $614, marking a 25.7% gain over three weeks. This is the first time BNB has closed above this level since June 2024.
2. Support and Resistance Levels: Key support levels are around $555, while resistance levels are near $620. Breaking past these levels could indicate significant price movements.
3. Market Sentiment: Positive market sentiment and technical indicators support the possibility of a bullish breakout. Traders believe that BNBโs recent resilience signals that the bullish trend may be just beginning.
Potential Risks:
1. Market Volatility: The crypto market is highly volatile, and sudden market downturns could impact BNBโs bullish outlook.
2. Network Activity: A decline in BNB Chainโs DApp volumes and network fees could pose risks to BNBโs price stability.
In summary, while Binance Coin shows promising signs of potential gains, itโs crucial to monitor key support and resistance levels and stay updated on market trends.
Will BNB Price Cross $700?BNB price action is currently in a short-term recovery phase, with an ascending triangle pattern forming near the $600 psychological resistance.
The altcoin has been consolidating between $464 and the $600 supply zone, with BNB trading at $583 after a 2.91% recovery.
BNB is trading above both the 50-day and 200-day EMAs, signaling strength in the price action.
The 50% Fibonacci level at $587 acts as immediate resistance, but a bullish engulfing candle suggests an increased likelihood of an overhead breakout.
The 50-day and 200-day EMAs show a sideways movement in a positive alignment, giving a neutral trend signal.
A bullish crossover in the MACD and signal lines near the resistance level strengthens the chances of a breakout.
If BNB breaks out, potential targets are $711 and $863 based on Fibonacci extensions.
On the downside, critical support levels include the local trendline and the 23.60% Fibonacci level at $522.
BNBUSD View!!Another bullish call for Bitcoin came from JPMorgan, which believes investors are turning toward gold and Bitcoin.
โ ising geopolitical tensions and the coming election are likely to reinforce the โdebasement tradeโ thus favoring both gold and Bitcoin,โ JPMorgan said in a report shared with Cointelegraph.
BNB Poised for Wave 5 Surge: A Golden Setup or Last Call to ExitBNB has made a decisive move, breaking its trendline and completing Wave 4 in a classic Elliott Wave triangle. For those new to Elliott Wave Theory, Wave 5 represents the final push in the current trend, typically leading to impressive gains. Currently, Wave 2 of 5 is nearing completion, and this sets the stage for Wave 3 of 5, often the most powerful wave in terms of price action.
However, hereโs the critical point: if BNBโs long-term support is decisively broken, thatโs the clear signal to exit. Stay informed on both the opportunity and the risk!
BNBUSD: Neutral on 1D but ready to explode.Binance Coin may be neutral on its 1D technical outlook (RSI = 50.922, MACD = 14.240, ADX = 37.132) but this consolidation is a build up to a potential price explosion, as the market tested and held the 1W MA50 in August. This is a similar pattern followed in October 2020 and before that in 2017, which led to the cylical rally to a blow off top. On each Cycle it is logical that the rallies will be shorter (diminishing returns). The first rally covered a full 1.0 Fibonacci range, the second 0.5 and it won't be unrealistic to expect 0.25 this time (50% less each time). Consequently, we expect the 1.75 to be reached this time (TP = 4,500).
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Bearish Reversal Setup for BNBUSD - Targeting Key Support at 472Description: In this daily analysis of BNBUSD, several bearish indicators suggest a potential decline towards the $472 support level:
Bearish Divergence on RSI: The RSI is showing bearish divergence, forming lower highs while the price has formed higher highs, indicating weakening momentum and a potential trend reversal.
Resistance at $607 - $628: The price is currently facing strong resistance within the $607 - $628 range. This resistance zone has previously acted as a supply area, and the recent rejection indicates that sellers are in control.
Double Top and Descending Triangle Formation: The recent price action suggests a potential double top formation around the $620 level, coupled with a descending triangle pattern, which are both bearish signs.
Price Target at $472: If the bearish scenario plays out, we can expect the price to move towards the key support at $472, which represents a strong area of demand.
Trading Plan:
Entry: Consider a short entry if the price breaks below $593 or on a confirmed retest of the resistance zone.
Stop-Loss: Set a stop-loss above $628 to manage risk.
Target: The primary target is $472, with potential for further movement depending on market conditions.
Remember to manage your risk appropriately, as market conditions can change quickly.
Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Always conduct your own research or consult a financial advisor before making trading decisions.
Binance Coin - We Will See The Bullish Breakout!Binance Coin ( CRYPTO:BNBUSD ) is hugging the previous all time high:
Click chart above to see the detailed analysis๐๐ป
Binance Coin has been hugging the previous all time high resistance for a couple of months in a row. Therefore it is quite likely that a bullish breakout will happen soon and following the previous pattern entry, Binance Coin could even hit 5 digits during the next crypto bullrun.
Levels to watch: $620, 20.000
Keep your long term vision,
Philip (BasicTrading)
BNBUSD View!!The cryptocurrency landscape is rapidly evolving, with new trends emerging and key players constantly shifting their strategies. Two tokens currently gaining attention are Binance Coin (BNB) and GoodEgg (GEGG), an AI-powered dating platform token. Binance whales, known for their significant influence on the market, are now taking positions in GoodEgg (GEGG), signaling confidence in the future growth of this innovative cryptocurrency.CZโs Release: A Catalyst for Binance Coin (BNB)
BNBUSD- Traingle break outIntraday bias - Bullish
Horizontal trend line- $605
Any close above $520 confirms intraday bullishness.
Indicators ( Hourly chart)
Directional movement index -Bullish
CCI (50)- Bullish
CCI(14)- Bullish
It is good to buy on dips around $500 with SL around $470 for TP of $605.
BNBUSD more consolidation but long-term cyclically targets $2000Binance Coin (BNBUSD) has been in Accumulation Mode since early March (March 11 1W candle), trading sideways within initially the Mayer Multiple Bands (MMB) Mean (black trend-line) and the 1st SD above (grey trend-line) and more recently the latter and the 1W MA50 (blue trend-line).
With reference to the 1W MA50 in particular, not only has it been the support since the late December 2023 bullish break-out but was successfully tested and held on the most recent pull-back, the August 05 Low.
This solidifies its position as the Support throughout the remainder of the Bull Cycle, which was in fact also the case during the previous Cycle where BNB had the final accumulation phase (blue ellipse) from September to December 2020, again within the same MMB - 1W MA50 zone, which initiated the most aggressive part of the Cycle (parabolic rally).
That rally peaked on the MM 3rd SD above (red trend-line) so a $2000 price tag, which will 'only' come close to the 2nd SD (orange trend-line), appears to be a realistic Target.
In addition, the Sine Waves serve as an excellent tool in roughly estimating the timing of the Cycle's peak, as it was very efficient during the previous two Cycles. That could be anywhere around June 2025.
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BNB Ready to Soar: Is A 24% Take-off Ahead?It might be early days, and the levels might not be perfect, but it appears that Binance Coin is forming an inverse head and shoulders pattern. Other coins, like Super and Phantom, are creating similar horizontal patterns, which typically provide better trade opportunities than breaches trend lines or moving averages. In addition, as we move into the fall in the Northern Hemisphere, we can expect trending markets to resume. It may take a few days to weeks for the right shoulders to form, but if a breakout occurs with the price breaking above $603, it could reach as high as $747, based on the current pattern.
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Final Warning! Binance Coin Crash ImminentGood morning my fellow trader... The title says it all!
I hope you are feeling wonderful today and tomorrow as well.
I hope that you had a nice day yesterday and that your week is filled with success.
Indeed... We can be successful in this business if we know what is going to happen before it happens... Don't you think? I do!
โ Support is now lost.
This is one of those "big altcoin projects."
๐ This is the biggest altcoin in some ways... Billions upon billions in market capitalization; this is great. Money will flow from this project to the smaller projects, it is a win-win-win-win situation... The market moves cycles; nothing more, nothing less.
This is just a friendly reminder; prepare for the crash .
Remember, you are Divine.
You are appreciated...
You are eternal... You can never die.
Namaste.
BNB potential HUGE SHORTThere is potential Wyckoff distribution range with a monthly bearish MACD divergency, so as a rules trading in range - range high deviation lead to range low deviation.
Maybe we about to step into Bearish trend crypto market, lets see, cuz in the end of the day its the game of probabilities =)
$BNB to retest $700 ATH, $1k? RocketBinance token is poised to smash through its recent ATH of $700. Rivaling NASDAQ:NVDA YTD performance- with none of the momentum risk.
This company is extremely well positioned for the bull run and has been basically up only since resolving the CZ verdict. Most Americans retail investors are unaware of this company or tone deaf to the opportunity. New charts this week!