Binancecoin
Promising Support ReboundIn the past week, BNB has demonstrated a downward trajectory, with its price reaching nearly $300 subsequent to breaking the lower boundary of the 4-hour range channel. However, on Friday, a notable recovery ensued as Binance Coin responded favorably to the support levels, resulting in a 4% upswing before reaching the $300 mark. Furthermore, there has been a positive response to the lower boundary of a bullish corner pattern.
Notably, the previously breached lower boundary of the range channel has now transformed into a significant resistance level. Consequently, there is a possibility of a new range channel forming, encompassing this resistance and the support at $300. In such a scenario, a range-bound trend can be anticipated for Binance Coin in the upcoming week. However, should this robust resistance level be surpassed, higher price targets within the $340 to $350 range may be considered.
Currently, the currency exhibits a downward trend in both the daily and 4-hour time frames, while maintaining a range-bound behavior within the weekly time frame.
Binance Coin can continue to rise and reach resistance areaHello traders, I want share with you my opinion about Binance Coin. Looking at the graph, we can see how the price, after a fake breakout resistance level 327.5, started a downward movement and started the formation of Elliott waves. After the end of the first wave, the price made an upward correction (2wave), continued the decline and broke through the support area 316.5-314.5 where it completed the third pulse wave. The fourth correction wave, rose, re-tested the current resistance area and continued the downward movement. The fifth wave completed its impulse movement in the support area 302.5-301.0, after which it re-tested the support area and began to grow. Binance Coin is currently trading below the resistance area and can continue to grow and reach it. I think that the price after a possible downward correction can continue the upward movement. In this case, I decided to set the target at 312.5 and in the zone 314.5-316.5. Please share this idea with your friends and click Boost 🚀
BNB: Approaching SupportBinance (BNB) technical analysis:
Trade setup : Following a bearish breakout from Rising Wedge pattern, price pulled back near $300 support zone, which could be an attractive swing entry. Previously, after a bullish breakout from Falling Wedge pattern, price reached our target of $340 but got rejected 4x thus far. That’s also a level where it got rejected last year in August and November.
Trend : Downtrend on Short-Term basis, Neutral on Medium-Term basis and Uptrend on Long-Term basis.
Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45).
Support and Resistance : Nearest Support Zone is $300 (previous resistance), then $260. The nearest Resistance Zone is $340, then $400.
Binance Coin shortSymmetrical triangle on Binance Coin chart is broken down. Bearish movement to support level at 290 expected to happen.
HelenP. I BNB may continue to fall and reach level of 300Hi folks today I'm prepared for you BRITISH POUND analytics. After breaking through resistance at the level of 300, Binance Coin continued to grow and reached the level of 345, where it formed a resistance zone, from which it began to decline. The price fell to support at level 300, after which it continued to rise, re-tested the resistance zone 345-350 and started a local downtrend. For a long time, an ascending triangle was created, which Binance Coin later left. After a deep correction and re-test resistance of triangle, the price continued to fall, broke through the support of triangle and dropped to the trend line. Recently, the price re-tested the trendline, bounce off, made a slight upward correction, continued to fall and broke through the trend line. Currently, Binance Coin is trading below the trendline and may continue the local downtrend. The price may drop to support at level 300 where there will be set goal for BNB/USDT. If you like my analytics you may support me with your like/comment ❤️
BNBUSDT DailyHi Guys Hope you well,
if you follow me you remember my last bnb analysis.
SecondChanceCrypto
⏰09/May/23
⛔️(DYOR)
always do your research.
If you have any questions, you can write them in the comments below, and I will answer them.
And please don't forget to support this idea with your likes and comment.
Binance Coin WCA - Ascending Triangle PatternHello and thank you for taking the time to read my post. Today, we analyze the Binance Coin (BNB) chart on the USDT pairing on the weekly scale, focusing on a classic price pattern called the "Ascending Triangle Pattern."
Ascending Triangle Pattern:
The ascending triangle pattern is a bullish continuation pattern that usually forms during an uptrend. It is characterized by a horizontal resistance line and an upward-sloping support line, representing higher lows. The pattern indicates that the buyers are gradually gaining control as they push the price higher, leading to an eventual breakout above the resistance line.
Analysis:
The general trend for Binance Coin was bearish since 08/11/2021, with the head and shoulders pattern marking the top. However, from 20/06/2022 onwards, we entered a consolidation movement characterized by an ascending triangle price pattern. This pattern displays multiple touchpoints on the horizontal resistance and two clear wicks as diagonal upward slanting support. All of this occurs above the 200 EMA, suggesting a bullish environment i.e a bullish continuation.
Price Targets and Resistance Levels:
The price target for this pattern is set at 494, representing a ~46% price increase from the current level. On the way to the target, we may face minor resistance at 453. A breakout above the horizontal resistance line would be a strong signal to enter a trade.
Breakout Filter:
A breakout filter of 5% helps to avoid false breakouts and premature entries. We will continue to monitor the chart closely for any signs of a breakout. Until then, this trade remains a watchlist candidate.
Conclusion:
The Binance Coin weekly chart analysis highlights the ascending triangle pattern, indicating the potential for a bullish continuation. As we wait for a breakout above the resistance line, traders should closely monitor this chart and consider proper risk management and position sizing before entering any trade.
Please note that this analysis is not financial advice. Always do your own due diligence when investing or trading.
If you found this analysis helpful, please like, share, and follow for more updates. Happy trading!
Best regards,
Karim Subhieh
BNB to see price rejection at recent lower highPrice action edged closer to the recent high, near $328. A move above the FVG zone ($331.5 - $333.7) and a lower high on 1 & 2 May could see a sell-off.
The likely drop could hit the support zone of $316 - $320 (cyan). The support has been steady since mid-March.
A close above the lower high ($336) will be an invalidation.
Entry: $331.5 (FVG’s lower boundary)
Target: $320 (support zone’s upper boundary)
Stop-loss: $336 (lower high on 1 & 2 May)
RR (Risk-Reward): 2.5
Binance Coin: will $320 hold?News are reporting that the level of coins held with Binance exchanger are modestly returning after an outflow caused by the negative news which surrounded this exchanger in the previous period. However, the price of BNB is staying within a relatively lower range. After not being able to clearly break the $350 resistance line some three weeks ago, the coin found a support level around $320. BNB started the previous week around $340, but soon reverted to the down side, reaching its lowest weekly level at $320, where the coin is finishing the week.
RSI continues to move around level of 50, however, it seems that the market is more oriented toward the oversold side, rather than on the opposite. Moving average of 50 days slowed down its divergence from MA200 counterpart. It might be just a short break, however, if the move continues, it might lead toward the so-called “dead cross” in the coming period.
Charts continue to point on a short-term reversal in the coming period. During the previous week, a short support line at $320 has been clearly tested. The coin still manages to hold above this level, however, in case of persistent selling orders, it might be breached. In this case, the coin will test $300 short term stop, with currently low potential for $280. In case that a move toward the upside occurs, it could be until level of $330. A move toward the $350 resistance line is not probable based on charts at this moment.
Unraveling BNB's Journey - Key Support LevelsIn the past week, Binance Coin (BNB) has exhibited a comprehensive range-bound trend, with price fluctuations hovering around 325. However, at the onset of the previous week, BNB showcased noteworthy support around the 321 mark, subsequently surpassing the resistance level of 327 and reaching the previous price ceiling within the 340 range. It is worth noting that despite the corrective state of Bitcoin and its response to resistance, there is currently insufficient substantial demand to breach the resistance zone of 330-350 for BNB.
Nonetheless, the key short-term support for Binance Coin remains at the price of 300. If the support level at 320 is breached, we can anticipate a decline in price towards the 300 mark. However, under favorable market conditions and the emergence of robust demand, it is expected that resistances will be overcome, potentially driving the price towards the target range of 370.
Binance Coin can continue to fall and break support of triangleHello traders, I want share with you my opinion about Binance Coin. When observing the chart, we can see how the price bounced from the level 300 and started an upward movement. Subsequently, Binance Coin reached the level 330, made a deep correction, continued to grow and broke through the current resistance level. The price rose to mark 350, where the upward movement was completed and the BNB began to decline. Over time, Binance Coin created a downward triangle and is currently trading in the within. We see that after the fake breakdown of the support area 320-315, the price rose to the resistance line of the triangle, formed a downward impulse, made a correction uphill and continued to fall. Not long ago, Binance Coin re-tested the resistance line, bounce off, started falling, and broke through the support level 330. After retesting the current resistance level, the price continued to decline and approached the support area. Binance Coin is currently trading over the support area, but can continue the downward movement and break through it. I think the price after a possible breakthrough of the support area can leave the triangle and continue to decline. In this case, I decided to set the targets in zone 320-315 and at level 310. Please share this idea with your friends and click Boost 🚀
BTC, ETH, LTC-Upside potential 🌤️XRP, BNB-Bullish☀️ DOGE-???🤔A slightly bullish market with upside potential is expected for Bitcoin, Ethereum, and Litecoin over the next 24 hours, with sun and some clouds🌤️, according to ATTMO, a weather-inspired AI tool with cryptocurrency predictions. Ripple and Binance Coin , on the other hand, will experience tropical weather 🏝️ today, indicating a very bullish market with some upside potential.
Over a one-week horizon, cloudy weather ☁️ with some sun is expected for both major cryptocurrencies, Bitcoin and Ethereum , which could result in a slightly bearish market with downside risk. As for Dogecoin , it faces stormy weather ⛈️ ahead, which may signal a drawn-out bear market with a possible market rebound in the near future.
Don't forget to check out ATTMO for more cryptocurrency weather insights! ☀️💰
XRP, BNB 🌴🌡️ BTC, ETH, LTC ☀️ DOGE ⛈️A bullish market with upside potential ☀️ is predicted for Bitcoin , Ethereum , and Litecoin over the next 24 hours by ATTMO, a weather-inspired AI tool for cryptocurrency predictions.
Meanwhile, Ripple and Binance Coin are experiencing tropical weather 🌴, indicating a very bullish market with some upside potential.
Over the next week, both Bitcoin and Ethereum are expected to have cloudy weather ☁️ with some sun, which could result in a slightly bearish market with downside risk.
As for Dogecoin , it faces stormy weather ⛈️ ahead, which may signal a drawn-out bear market with a possible market rebound in the near future.
Keep up with the latest crypto weather forecasts by following us!🤝
Binance coin (BNB) formed a BAT for the next price reversalHi friends, hope you are well and welcome to the new trade setup of Binance coin (BNB) with US Dollar pair.
Previously we caught a nice trade of BNB as below:
Now on a 4-hr time frame, BNB has formed a bullish BAT for the next price reversal.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
BNB Bias for the dayHow i started this market (Overall Trend is on a Rising Wedge D TF)
Checked my 4H tf and its on my Support TL and on top my 20EMA (Symmentrical Triangle)
On my 1tf it formed a H&S. but due to volume i am not confident on the pump but if it goes
my entry is set on a retest to the neckline
All Ema above the Candle
if it Breaks down i will wait for a retest on my Support trend line for a ride to hell
INDICATORS
Hull Suite : 1H hull ind. breakout to the Green
Fair Value Gap: Two FVG to cover up liquidity
On Balance Volume: OBv on a side ways movement(No volume)
Binance Coin longBinance Coin bounced off the ascending trendline and bounced off the support level. Bullish movement to resistance level at 335.5 is expected to happen.
W10-20 BNB SHORT TERM BULLISH IDEAPotential Bullish Entry
Dow Theory In Place - Higher High and Higher Low Expected in Place
Formation of Harmonic Bullish reversal Pattern AND DOUBLE BOTTOM coupled with bullish divergence at potential reversal zone (PZR)
Entry at the new HH
SL & TP Levels are defined.
Binance: Excited! 😬Lately, Binance has been jumping up and down below the resistance at HKEX:347 excitedly, even hopping above this mark once to finish wave (b) in blue. To complete wave (c) in blue as well as wave ii in magenta, the altcoin should move a bit more purposefully, diving into the magenta-colored zone between $304.40 and $274.90. There, our crypto friend should gain enough upwards momentum to develop wave iii in magenta and thus make it above the hurdle at HKEX:347 effectively. There is a 27% chance, though, that Binance could skip the magenta-colored zone, climbing above HKEX:347 directly to expand wave alt.iii in magenta earlier already.
Binance Coin shortBinance Coin bounced off the descending trendline. Asset bounced off the resistance area. Bearish movement to support level at 320 is possible.
HelenP. I BNB exit triangle and may continue to declineHi folks today I'm prepared for you BINANCE COIN analytics. The price, after reaching support at level 265, rebounded and started a local uptrend. Binance Coin broke through the resistance zone 293-300, re-tested it and continued to grow. From the level 346, the price started to decline and fell to the current support zone. Binance coin re-tested the support zone, continued the uptrend and tried to break through the resistance at the level of 346, but the price could not fix in higher and began to decline. For a long time, price formed an upward triangle and recently broke through a support that correspond the trend line and left it. It seems to me that Binance Coin can continue the local downtrend and continue to fall. The price may drop to the support zone 300-293. Therefore, the targets will be set at levels 310 and 300. If you like my analytics you may support me with your like/comment ❤️
Binance coin trades inside wedge and can fall to support lineHello traders, I want share with you my opinion about Binance Coin. Looking at the chart, we can see how the price fell to the level 315, where it formed the buyer zone 315-319, which make retested and started an upward movement. For some time, the price traded in a small range, after which it left it and continued to rise. We see how Binance Coin made a fake breakout 343.5 resistance level, then reversed, formed a downward impulse and began to fall. Over time, the price has created a downward wedge and is now trading inside. Binance Coin retested the support line of wedge, which coincide with the buyer zone, and began to grow. The price is now trading close to the resistance line and could rise and retest it. I think that after a possible retest of the resistance line, the price can bounce back and continue to decline. Binance Coin can reach the support line of wedge, in this case I decided to set targets at level 320.5 and at level 316, which coincide with support of wedge. Please share this idea with your friends and click Boost 🚀
BNBUSDT DailyHi guys, Hope you well
We have two scenario for binancecoin. I agree with first that go down to daily demand .
SecondChanceCrypto
⏰27/April/23
⛔️(DYOR)
always do your research.
If you have any questions, you can write them in the comments below, and I will answer them.
And please don't forget to support this idea with your likes and comment
