Binance Coin (BNBBTC) tends to move inverse to Bitcoin (BTCUSD).
Right now we see that Bitcoin might have peaked and at the same time we see a hammer candlestick on Binance Coin (BNBBTC), a bounce can happen here.
Here are the two main scenarios I am looking at:
My view: I believe we will go with the first scenario, based on the analysis described here:
Enjoyed this post? Feel free to hit like.
Thanks a lot for the support.
This is Alan Masters.
Namaste.
Right now we see that Bitcoin might have peaked and at the same time we see a hammer candlestick on Binance Coin (BNBBTC), a bounce can happen here.
Here are the two main scenarios I am looking at:
- 1) Bitcoin drops and Binance Coin (BNB) moves up, following the green arrow. A close above EMA10 would support this view.
- 2) Bitcoin goes sideways or moves up, Binance Coin continues going lower and test 0.148 Fib. level of the chart above.
My view: I believe we will go with the first scenario, based on the analysis described here:
Enjoyed this post? Feel free to hit like.
Thanks a lot for the support.
This is Alan Masters.
Namaste.
Note
Latest Binance Coin (BNBBTC) update: 
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🚨 The difference between poor weak signals & PREMIUM trade-numbers lies in results. Stand apart from the crowd. #1 Since 2017. Join now 👉 t.me/lamatrades/4
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.