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BNBUSDT.P trade ideas

BNBUSDT.1DAfter examining the BNB/USDT chart with a focus on its recent technical movements, here is my detailed analysis: Trend Analysis: The chart displays a distinct downward trend beginning from the recent high in July 2024. The presence of lower highs, as marked by the descending trendline, suggests continued bearish sentiment. Notably, the price attempted to recover but has been consistently rejected at lower levels, reinforcing the strength of this downtrend. Support and Resistance Levels: Resistance 1 (R1) at $613.5 is the immediate barrier, which aligns with the descending trendline. Overcoming this level would be crucial for any bullish recovery. Resistance 2 (R2) at $681.1 and Resistance 3 (R3) at $721.8 represent historical peaks and will be significant if a bullish momentum builds. Support 1 (S1) at $503.7, where the price has recently bounced, marks a critical juncture. A breach below this could see the price heading towards Support 2 (S2) at $401.8 and potentially Support 3 (S3). Support 4 (S4) represents the longer-term floor that might be tested if the downtrend persists. Technical Indicators: The Moving Average Convergence Divergence (MACD) is currently positioned below the signal line, which typically indicates bearish momentum. However, the histogram suggests the momentum is weakening as the bars are decreasing in size, possibly indicating a slowdown in the downward movement. The Relative Strength Index (RSI) is around 46, indicating neither overbought nor oversold conditions but leans slightly towards bearish sentiment. Current Price Situation: The price is approximately $540.2, nestled between S1 and the descending trendline. Its position beneath the trendline and near a moderate support level suggests a cautious market sentiment. Strategic Outlook: Given the prevailing technical setup, my strategy would focus on risk management and opportunistic trades based on price action near these key levels. A conservative approach would involve watching for the price to either: Break and sustain above R1, which could indicate a potential reversal or relief rally, targeting higher resistance levels. Fall below S1, confirming the bearish trend, which might necessitate short positions or exits from long positions, with S2 as the next target. Conclusion: This environment requires vigilance as the market is positioned at a delicate point near significant support. An increase in volume and further MACD divergence from its signal line would be key indicators to watch, as these might provide early signals of the market's next major move. As always, combining these technical insights with broader market news and sentiment will enhance decision-making accuracy.
Long
by MarsSignals
BNB-USDT 1D ChartHello everyone, I invite you to a quick review of the BNB to USDT chart on a one-day time frame. As you can see, the price has set a new local upward trend line, which is important to stay in the upward phase. After unfolding the Fib Retracement grid, you can see that the price rebounded from the level of $524, then the second support is at $500, the third support is at $477, and the fourth strong support is at $443. Looking the other way, there is strong resistance around $561, but much more important is the level of $605 which has currently rejected the increases.
by cryptodailyuk
BNB VS TON Friends, let's take a look at the market situation for two popular cryptocurrencies — BNB (Binance Coin) and TON (Toncoin). The charts show that both coins have very similar price movement structures, which could indicate potential opportunities. If we analyze the mechanisms of these coins, they are almost identical, but the TON chart lags behind BNB. Despite the news about Telegram, I see a lot of potential in the TON coin and expect its price to exceed $10 this fall. I’ve shown why I believe this on the chart.
Long
by Du_Trade
BNB Pullback starts now! Hello, good evening to all! Here we go again on another analysis after scanning the crypto. This time, let's talk about BNB. In this analysis, we start by marking the trend line on the H4 chart and we see that there's a trend reversal in a clear head and shoulder pattern from uptrend to downtrend. Now that we're seeing downtrend - I also noticed that after going to H1 chart, it formed a double bottom. Based on my recent study, this is an indicator that the price will go up - it supports the H4 chart since after going down, it stopped for a pullback. Not a 100% accurate but we should be expecting the pullback will go to the level of resistance from the previous support and will either go down further. That's it from my analysis. Note: This is not a signal. This is just an application based on the analysis that I learned and testing it out. Share your ideas, and suggestions by commenting below to help me improve my trading analysis. Thank you!
Long
by jefersonroda
BNBUSDT could reach the $4000 to $7000 rangeHello Traders, I'm excited to share my analysis on BNBUSDT using the weekly timeframe. Looking at the right chart on a standard scale, it's easy to feel confused 😕 as the broader picture is hard to see. However, switching to the logarithmic scale on the left chart, patterns and channels become much clearer. From this perspective, I anticipate that BNBUSDT could reach the $4000 to $7000 range around 12 to 24 months after breaking the resistance at $650. This analysis is focused on a long-term investment or a long position. I’d love to hear your insights and thoughts on this!
Long
by Eymen-GUVEN
Binance Coin On The Decline: Chart RevisitedWe are not new to Binance Coin's bearish bias, we've been at it for a while. Things are different now, it is so clear that no single shred of doubt remains... Do you agree? We are looking at BNBUSDT on the daily timeframe and the drawings on the chart are self-explanatory, but, let's review them one last time before the crash. The failed signal/bull-trap in June is quite revealing, it literally reveals the top. Just as a strong breakdown leading to a lower low that quickly recovers is considered a bullish signal; in reverse, a strong breakout that quickly reverses is considered a bearish signal. A signal is just a signal, it doesn't mean down or up, only price action can confirm if the signal we spot on the chart is real. Price action confirms the bearish signals in this case. After June, BNB starts to produce lower lows. A crash in July, a crash in August and now we are set for another crash in September; the chart patterns are all exactly the same. A slow bounce that produces a rising wedge, the rising wedge breaks down after a lower high leading to a new lower low and then repeat the same. We are expecting lower on this and other major pairs. Prepare. Namaste.
Short
by AlanSantana
6
BNB: Bullish Triangle ConfirmedBNB: Bullish Triangle Confirmed BNB just completed a symmetrical triangle pattern and the price broke out after the accumulation. The price is retesting the broken resistance that has now turned into support. Chances are it may rise further from this area. It's a bit risky, but it can work well. The first resistance and target zone is found near 557 and the second and stronger zone is near 590 You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Long
by KlejdiCuni
3
BNBUSDT.1DReviewing the BNB/USDT chart on a daily timeframe, we observe a complex pattern with a notable trend of fluctuation and recent signs of potential recovery. Here's a breakdown of the key technical indicators and patterns that frame the current market sentiment and outlook for Binance Coin. Key Observations: Price Movement: BNB has shown a significant downtrend marked by a descending resistance line (R1), which has consistently capped upward movements. The price is currently approaching this resistance line again, suggesting an imminent test. Support and Resistance Levels: Resistance Levels (R1 and R2): R1 is currently at approximately $503.7, with R2 higher at $613.5, indicating potential target levels if the price breaks above R1. Support Levels (S1, S2): S1 is marked at $401.8, with S2 lower at $300, providing critical areas where the price might stabilize if it retraces. MACD Indicator: The MACD line is above the signal line and both are ascending, suggesting a building bullish momentum. This could be indicative of a shift towards a positive trend if sustained. RSI Indicator: The Relative Strength Index is near 55, which is moderately bullish and suggests that there is room for upward movement before BNB becomes technically 'overbought.' Technical Analysis and Conclusion: The current setup on the BNB/USDT chart indicates a pivotal moment where the asset is testing key resistance at R1. A break above this line could signal a strong bullish reversal, potentially leading the price towards the next resistance at R2. The positive divergence in the MACD supports this potential move, suggesting increasing bullish momentum. However, if the resistance at R1 holds, we might see a pullback to the support at S1, or further down to S2 if bearish pressures intensify. The presence of a higher low compared to the previous spikes suggests a strengthening in market sentiment, which might underpin recovery attempts. Trading Strategy: Bullish Scenario: Consider taking a long position if BNB convincingly breaks and holds above R1. Set a target near R2 with a stop-loss slightly below R1 to manage risk. Bearish Scenario: If BNB fails to breach R1 and reverses, a short position could be considered, targeting S1. Place a stop-loss just above R1 to limit potential losses. Traders should closely monitor volume and other market dynamics for confirmation of these movements. As always, external factors such as market news, overall crypto sentiment, and regulatory developments should be factored into any trading decisions to adjust strategies dynamically.
Long
by MarsSignals
1
BNB Is Forming an ABCD PatternThe AB=CD pattern is a four-point price harmonic, which involves a partial retracement of the initial price segment, followed by an equidistant move from the completion of the pullback. Not every impulse and retracement form an ABCD Pattern. I use it under two conditions: 1. AB is an Impulsive move. 2. Sharp retracement up followed by a sharp move down. Use a trendline as a guide. ABCD Targets: 1. A shallow continuation follows a deep retracement and vice versa. For example, if BNB retraces in C to 70% of AB, the D point is expected at 1.414. If it retraces to the 0.618 of AB, the D point is expected at 1.618. Your default should be the 1:1 extension. BNB is creating a nice ABCD With a target of 350$. Invalidation: Price > 544$
by NewThoughtCrypto
BNB Is Forming an ABCD PatternThe AB=CD pattern is a four-point price harmonic, which involves a partial retracement of the initial price segment, followed by an equidistant move from the completion of the pullback. Not every impulse and retracement form an ABCD Pattern. I use it under two conditions: 1. AB is an Impulsive move. 2. Sharp retracement up followed by a sharp move down. Use a trendline as a guide. ABCD Targets: 1. A shallow continuation follows a deep retracement and vice versa. For example, if BNB retraces in C to 70% of AB, the D point is expected at 1.414. If it retraces to the 0.618 of AB, the D point is expected at 1.618. Your default should be the 1:1 extension. BNB is creating a nice ABCD With a target of 350$. Invalidation: Price > 544$
by NewThoughtCrypto
#BNBUSDT Descending Channel, is Breakout possible?🔸After the market crash in August 5, BNB has seen a pullback of 35% sending the price from $401 to $545. Currently sitting at $535 below the 200 MA ($536). 🔹The reason behind the price movements has been the overall market behavior specially Bitcoin, if you have read my BTCUSDT analysis that i posted yesterday you can notice some similarities among these two pairs. 🔸Similar to Bitcoin, BNB is consolidating below it's 200 MA ($536) and the support at $510. With a little bit of positive fundamentals to push the bulls, Bitcoin price can possibly move higher and try to regain it's recent losses resulting in BNB to follow the flagship and break above the 200 MA ($536) 🔹From there if the next target for buyers would be the resistant line of the channel, if this resistance cracked the price can move up to $620, $645, $700 and $720. 🔸Conversely, if the pair stayed loyal to the Descending Channel and aimed lower, the $500 - $510 support will break the next target for the bears would be $460 and $400. Zanzibar Trading
Long
by Zanzibar_Trading