1st BNB analysis
As per the 4 HRLY and Daily Chart, the following observations.
Conclusion:
Go long on BNB, based on BTC pairing results
Buy at the dips within the BTC pairing chart.
DAILY Chart:
The rise of BNB has been impressive.
It seems to be in a large ascending triangle (channel) and within this, in the upper part.
BNB\BTC Pairing Chart:
> Given that BTC is on a uptrend, ALTs will do less against BTC as per BNBBTC pairing chart;
> The EMA ribbon indicates we have a strong resistance to pass which equates also to BTC dDominance increasing (forecasted);
> Blue region is the target after the break out;
4 HRLY Chart:
> Note the RSI levels and direction for the short term;
> After a significant increase, BNB has dropped back into the bull channel where it will accumulate before increase in price;
BTC Dominance results + forecast chart:
As per the 4 HRLY and Daily Chart, the following observations.
Conclusion:
Go long on BNB, based on BTC pairing results
Buy at the dips within the BTC pairing chart.
DAILY Chart:
The rise of BNB has been impressive.
It seems to be in a large ascending triangle (channel) and within this, in the upper part.
BNB\BTC Pairing Chart:
> Given that BTC is on a uptrend, ALTs will do less against BTC as per BNBBTC pairing chart;
> The EMA ribbon indicates we have a strong resistance to pass which equates also to BTC dDominance increasing (forecasted);
> Blue region is the target after the break out;
4 HRLY Chart:
> Note the RSI levels and direction for the short term;
> After a significant increase, BNB has dropped back into the bull channel where it will accumulate before increase in price;
BTC Dominance results + forecast chart:
Trade active
BNB facing strong resistance.Note
BNB\BTC pairing > if your going long, the green zone is the optimum area to buy. Currently getting rejected by the red zone. In my opinion, if your going long, its a good time to buy. If your going short, allow the 4 hrly candle to close above the resistance.Note
Note
For the short term, BNB bearishBNBUSDT
BNBBTC Pairing
Trade closed manually
If only I had thought of it before, I would have gained so much.My theory for why BNB did not recover well is due to BINANCE removing USA clients.
These clients have a big section on BINANCE transactions and it makes sense that they would sell off BNB for BTC as a means of moving their $$ as there is little option otherwise.
Trade active
You blink and you miss it.Note
before
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This community has signals now but with no risk management comms.
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.
Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
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.