BNB 12h. Down by $22.5 or Up by $44?
Updated
lmost a month has passed since the publication of the previous BNBUSDT global idea.
Since that time, the BNB price has clearly worked out the first target of $26.70, making -16%.
However, below buyers did not allow the price to be fixed and organized a solid rebound, updating the high this year at $36.1. Truly speaking, BTC helped a lot with the growth.
By the way, BTCUSDT sellers closed yesterday's daily candle with a bearish pinbar.
It is difficult to say how altcoins will behave in the coming days, since it is not yet clearly visible whether Bitcoin will be fixed in Fiat or transferred into altcoins and organize the altseason.
Therefore, we assume two scenarios for the development of events, which must be closely monitored:
1) The price will be able to fix above $36.5. Then the growth will continue to ATH $39.6, a slight correction and continued growth to $44.
2) Now the formation of a bearish wedge is being completed, volumes are decreasing throughout the entire wedge. And if you narrow the chart, you can assume a double top, where the first peak is in 2019, and the second is completing its formation now. The first target of the bearish wedge is $22.5.
_______________________________
Since 2016, we have been analyzing and trading the cryptocurrency market.
We transform our knowledge, trading moods and experience into ideas. Each "like under the idea" boosts the level of our happiness by 0.05%. If we help you to be calmer and richer - help us to be happier :)
Since that time, the BNB price has clearly worked out the first target of $26.70, making -16%.
However, below buyers did not allow the price to be fixed and organized a solid rebound, updating the high this year at $36.1. Truly speaking, BTC helped a lot with the growth.
By the way, BTCUSDT sellers closed yesterday's daily candle with a bearish pinbar.
It is difficult to say how altcoins will behave in the coming days, since it is not yet clearly visible whether Bitcoin will be fixed in Fiat or transferred into altcoins and organize the altseason.
Therefore, we assume two scenarios for the development of events, which must be closely monitored:
1) The price will be able to fix above $36.5. Then the growth will continue to ATH $39.6, a slight correction and continued growth to $44.
2) Now the formation of a bearish wedge is being completed, volumes are decreasing throughout the entire wedge. And if you narrow the chart, you can assume a double top, where the first peak is in 2019, and the second is completing its formation now. The first target of the bearish wedge is $22.5.
_______________________________
Since 2016, we have been analyzing and trading the cryptocurrency market.
We transform our knowledge, trading moods and experience into ideas. Each "like under the idea" boosts the level of our happiness by 0.05%. If we help you to be calmer and richer - help us to be happier :)
Trade closed: target reached
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okx.com/join/20PSTRADE
🔥V-I-P cutt.ly/PwkLhT56
👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s
🔵Telegram t.me/pstrade_eng
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