Binance Coin (BNB) - Get ready for the next pump!
Updated
After very good news for BNB (will become a native coin with an own network - read Binance news section) we had a massive pump today with very high volume.
We retraced 50%, then went up and consolidated between 2 Fib-levels (in yellow).
By doing so, BNB painted a wonderful bullish pennant (blue lines).
A breakout to the upside from the pennant would probably bring us to 0.00145 Satoshi levels, if the full potential of the pattern is realised.
So we are looking at a huge profit potential here.
Don't wait for too long with entering, as the pump may happen really fast.
You could consider setting up a stop limit buy order just above the pennant, if you want to be on the safe side.
Consider a stop loss just under the pennant.
Good luck!
We retraced 50%, then went up and consolidated between 2 Fib-levels (in yellow).
By doing so, BNB painted a wonderful bullish pennant (blue lines).
A breakout to the upside from the pennant would probably bring us to 0.00145 Satoshi levels, if the full potential of the pattern is realised.
So we are looking at a huge profit potential here.
Don't wait for too long with entering, as the pump may happen really fast.
You could consider setting up a stop limit buy order just above the pennant, if you want to be on the safe side.
Consider a stop loss just under the pennant.
Good luck!
Note
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Note
Looks like we are consolidating a bit longer in this range, so I have extended the pennant:I still think we will break to the upside, but with BTC taking a huge dump again, everything is possible.
Note
BNB fell out of the pennant.Note
Given that BTC and many other coins are taking a massive dump, BNB is holding up remarkably well so far.If we would be in a bull market, this thing would skyrocket for sure.
But the way things are now, BNB not tanking is pretty much the best result, I guess.
Note
One more failed breakout attempt, rejeceted immediately.Note
I have made an updated chart:
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