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Binance Coin Can Bounce Here (Two Scenarios To Look At!)
Binance Coin / Bitcoin
Binance Coin Can Bounce Here (Two Scenarios To Look At!)
By AlanSantana
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Updated
May 2, 2019
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Apr 24, 2019
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:
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.
May 2, 2019
Note
Latest Binance Coin (BNBBTC) update:
alanmasters
Beyond Technical Analysis
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