Binance intraday setup$247.8 trendline support almost same level as fibonacci .618
this is a strong support level for binance.
Trendline resistance around $262 will be a good bullish target for intraday setup
BNBUSD trade ideas
1 and 2 and in the sequence of wave 3 in a larger degreeGreetings, dear friends. I hope you are having a productive week.
I am happy to assist you in ensuring that all previous analyses are attached to each corresponding analysis. This will provide a comprehensive overview and help you make well-informed decisions. Please do not hesitate to let me know if there is anything else I can do to assist you further.
I want to share my market analysis ideas based on the Elliott Wave Principle with you.
I am a fan of this principle and follow all the rules and guidelines for analyzing the market.
However, please note that my ideas are based on my personal experience and may change over time.
If there is an error in my analysis, I am open to re-analyzing it from the beginning and learning from my mistakes.
It's important to understand that making an error in analysis is not a fault, but evading responsibility is.
No one can analyze financial markets with 100% accuracy, but it's remarkable how close we can get.
We analyze from multiple perspectives to consider all possibilities.
Let's mention a few opinions and ideas!
Based on mathematics.
I am still practicing to understand the Elliott Wave Principle better and hope to provide an even better analysis in the future.
Thank you for your continued support, and I look forward to our mutual success.
Best regards,
Mr. Nobody
Keep trying and never give up.
Good luck!
Will BNB Reach $300?Market Context: Binance Coin (BNB) is benefiting from the broader crypto market recovery, with Bitcoin at $34K.
Current Status: BNB is trading at $226.9, with an intraday rise of 1.11%.
Resistance Level: The $230 and $270 marks are significant resistance levels for BNB.
Technical Indicators - EMA: The 50-day EMA is approaching the 200-day EMA, hinting at a possible golden crossover.
Technical Indicators - MACD: A positive crossover between the MACD and signal lines indicates growing momentum.
Recent Performance: BNB has successfully completed a positive cycle, exceeding the 50-day EMA.
Retest: After approaching $280, BNB retested the $270 mark, where buyers regained control.
Potential Targets: If BNB crosses the $230 mark, it could aim for $270 and potentially $300.
Downside Risk: A reversal from $230 could lead to a drop to $200.
Market Sentiment: Overall sentiment is bullish, especially if BNB sustains its current momentum.
Double Top Pattern: A potential double top pattern with a neckline at $270 could be forming.
Long-Term Outlook: Binance price predictions are optimistic for the coming years, given the improving market conditions.
Watch the shortsPlease pay attention to the current areas, because they are considered areas of discharge with distinction, as it is clear that he wanted to test them many times and could not break them upwards, in addition to that he walks sideways for a very long time inside the body of the specific candle
BNB: BREAKOUT | RETEST | BOUNCEBNB Update:
BNB has broken above the resistance trendline in a daily timeframe. This move is different compared to the previous move as you can see in the chart. This breakout could possibly push BNB toward the bullish side. All it needs to do is hold the price above the resistance trendline.
A breakdown back to the falling wedge pattern will invalidate the bullish move for the time being.
Note: This analysis is on a higher timeframe. Do not scalp based on this chart.
Trade safely.
Regards,
Team Dexter.
BNBUSD down almost 40% since mid-summer, time for a rebound?One of the cryptocurrencies that came to our attention recently is Binance Coin. Currently, it trades near $213, down nearly 40% from its summer highs, which makes a compelling case for a rebound. As a result, we watch a setup with a long position entry above Resistance 1 and a tight stop-loss order below it; Resistance 2 will act as our price target level if the breakout occurs. We will update thoughts on the asset with the emergence of new developments.
Illustration 1.01
Illustration 1.01 shows the setup for BNBUSD.
Technical analysis gauge
Daily time frame = Neutral
Weekly time frame = Neutral
*The gauge does not necessarily indicate where the market will head. Instead, it reflects the constellation of RSI, MACD, Stochastic, DM+-, ADX, and moving averages.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
BNB: WRESTLING THE RESISTANCE TRENDLINE.BNB Update:
BNB has remained calm and managed to maintain the $200 range quite significantly. With the current price level at $212, BNB is still under the threat of dipping down as it faces the resistance trendline. If somehow BNB manages to break and close above the resistance trendline, things may look different. If not, we have the $200-$203 support waiting for BNB.
What's your view on BNB, let me know in the comments.
Thank you for reading and trade safely.
Regards,
Team Dexter.
Bullish position in price reaction styleI predict that the price will move above this red box.
So we wait for the price to reach this level.
Descending and then ascending means profit on both sidesI expect the price to reach the green box with a downward movement and after that the price will climb up and reach the red box.
BNBI envision a target for BNB at the marked spot, but it would be better suited to the bottom of the support.
Binance Coin (BNB) -> Another 500% RallyMy name is Philip, I am a German swing-trader with 4+ years of trading experience and I only trade stocks , crypto , options and indices 🖥️
I only focus on the higher timeframes because this allows me to massively capitalize on the major market swings and cycles without getting caught up in the short term noise.
This is how you build real long term wealth!
In today's anaylsis I want to take a look at the bigger picture on Binance Coin .
You can perfectly see that Binance Coin is forming quite strong support at the psychological $200 level from which we already saw multiple bullish rejections.
However since Binance Coin is approaching this level with lower highs, I am personally waiting for a breakout of the current bullish continuation triangle pattern.
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I know that this is a quite simple trading approach but over the past 4 years I've realized that simplicity and consistency are much more important than any trading strategy.
Keep the long term vision🫡
Binance Coin -> Massive Risk To RewardMy name is Philip, I am a German swing-trader with 4+ years of trading experience and I only focus on price action and market structure 🖥️
I am trading the higher timeframes because this allows me to massively capitalize on the major market swings and cycles without getting caught up in the short term noise.
This is how you build real long term wealth!
In today's anaylsis I want to take a look at the bigger picture on Binance Coin.
After the solid break and retest in June of 2020 Binance Coin followed the crypto bullrun and pumped more than 5.000% towards the upside. With the recent -70% correction Binance Coin is forming a triangle pattern and if we see a breakout I do expect a massive pump again.
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When the market moves where, and how, and if - these are all unknown.
The only thing which you can control is your risk.
- Philip Basic Trading -
Keep the long term vision🫡
Binance coin could dive hardFor 2 months now, Binance coin has been trading in a 10% range between 205 and 225.
The coin looks without any power and, considering the problems from Binance, we could expect a break of the support on which the coin is standing now.
In such a case, BNB could dive hard towards 140,
180 low from mid-June last year could also offer interim support
I'm bearish this coin as long as the price stays under 225 on a daily bases close
BNB to 2000$As you can see we have 2 very similar fractals in previous cycle and cycle before that which lead the price to bottom; we also had Rsi extremely oversold for both which I appointed them in red circles , from the cycle bottom to the start of climbing took 68 bars which we currently at it , as you can see we have a similarity in Rsi aswell , some other criteria made me get to this conclusion which you can check in previous TAs ; BNB is a good project and its necessary to be in every basket; my target is somewhere around 2000$ for the end of 2024 .
Stay safe fam
Will BNB cross $220?Falling Wedge: BNB shows a falling wedge breakout in the daily chart.
Resistance Zone: Sellers are dominating the $219-$220 mark.
Potential for $250: A breakout above $220 could lead BNB to $250.
Recent Decline: BNB has fallen 41% between April and September 2023.
50-Day EMA: The declining 50-day EMA is supporting the bearish trend.
Double Top: A potential double top pattern is forming at $219.
Current Price: BNB is trading at $212 with an intraday fall of 0.56%.
Bearish Neckline: A bearish pattern could complete with a neckline at $206-205.
Psychological Mark: $200 is a crucial psychological level.
Technical Indicators: The ADX line is falling sharply, indicating loss of momentum.
Bearish Crossover: DI lines are showing a potential bearish crossover.
Flip Side: A downtrend could take BNB to new lows, with key supports at $180 and $150.
BNBusdtBullish engulfing on the 1weekly time-frame in the old bid zone..
Some bullish news for the binance sec case coming soon?
BNB Chart AnalysisContext: BNB is the only crypto chart
which "only" dropped approx. 74% from its ATH in 2021...
The entire crypto space has been bleeding out, but BNB
has been hovering around up there.
Why should it drop down to $43.20?
Because the chart says so, that's all I care about.
What needs to happen for that drop? I don't know, but
I have a theory. Binance holds large sums of USDT.
USDT is not completely backed by USD 1:1.
Once that comes out, people will withdraw their money
out of USDT causing it to go down.
We are talking about billions of dollars.
Binance will go down with it.
The chart couldn't be more obvious.
One Leg Downside After Big Move??Greetings everyone,
I hope you've had a productive week with successful trades. I wanted to share some of my ideas on the Elliott Wave Principle. It's crucial to make informed decisions and exercise patience in all transactions.
As per a quote from (J.F.), a professional analyst of the Elliott wave principle, amateur traders tend to focus on the possibilities that may happen while professional traders focus on the possibilities of what is happening.
My recommendation is to bear in mind that, after making a trade, the primary responsibility of the trader is to minimize risk, eliminate it, and ultimately preserve the profits earned.
Thank you for your continued support, and I'm excited to continue our journey together.
Sincerely,
Will BNB Cross $250 With This New Bull Trend?BNB showcases a breakout from its falling wedge pattern.
It rebounded from the $200 mark.
Potential to approach the $230 resistance to reverse its downtrend.
BNB failed to surpass $350 in 2023, leading to a drop to $200.
The price is currently $216.60, with a slight intraday decline.
Recent price actions display a double-bottom reversal.
Resistance is noted from the 50-day EMA.
Bullish trends are evident from MACD and RSI indicators.
BNB might aim for the $250 mark post surpassing $230.
A decline might challenge the falling wedge pattern's foundational support.
2023 Showdown: Can Binance Coin Hold the $200 LineHello traders and investors! If you appreciate our charts, give us a quick 💜💜.
A remarkable similarity between the current Weekly chart of BinanceCoin ( BINANCE:BNBUSD ) and the 2018-2019 market has become evident. It's as if we're witnessing a large fractal pattern unfolding before our eyes. However, as we stand on the brink of 2023, there's a critical juncture approaching - the $200 support level for $BNBUSD.
When we examine this fractal in the context of 2018-2019, it suggests a scenario where the price could potentially break down, possibly leading to a significant 50% decline to approximately the $100 level.
This pivotal moment at the $200 support level warrants our keen attention, as it could have substantial implications for the future direction of BinanceCoin. The echoes of the past are compelling, and it's essential for traders and investors to stay vigilant and monitor this unfolding pattern closely.
BnB Has Completed The Double Top Target and Now You Can Buy BnB Has Completed The Double Top Target and You Can Now Buy The Triple Bottom With Manual Stop-Loss
BnB in The Buy Zone With Stop Guide, Good Luck
