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Binancecoin

BNBUSDT.1DAnalyzing the daily chart for Binance Coin (BNB) against USDT, we observe a significant price consolidation over the recent months. As of the latest data point, BNB is trading at $629.7. The chart is marked with several key resistance (R1, R2) and support (S1, S2, S3) levels. Resistance Levels: R1 at $649.1 and R2 at $724.8. These levels have served as strong psychological barriers where price has faced selling pressure. The break above R1 recently suggests a bullish sentiment that may attempt to test the R2 level if this momentum continues. Support Levels: S1 at $498.2, S2 at $398.5, and S3 below that which isn't clearly shown in the chart. The support levels indicate where buying interest has historically been strong enough to prevent further declines. Notably, the price hasn't tested S1 recently, indicating current market strength. Technical Indicators: RSI (Relative Strength Index) is at 56, which is moderately bullish and suggests there's room for upward movement before the asset becomes overbought. MACD (Moving Average Convergence Divergence) is showing a bullish crossover, which supports the upward price momentum observed. Price Action: The presence of bullish candlesticks breaking above R1, coupled with increasing trade volume, indicates an accumulation phase possibly by institutional investors, signaling strength. Conclusion: The technical analysis suggests a bullish outlook for BNB in the short term, provided it sustains above R1. Traders might look for entry points on small retracements towards R1, setting stop losses just below this level to manage risk. The next target would be R2, with a possible breakout leading to higher highs. However, any reversal and break below R1 would require reevaluating this bullish scenario. Always consider market news and broader economic indicators which might influence market sentiment and cause sudden shifts in price trends.
by MarsSignals
Binance Coin Price Pattern Set for Breakout is $900 Inevitable?The native coin of the crypto currency exchange Binance ( CRYPTOCAP:BNB ) price has been in a close consolidation phase for nearly 13 weeks. With each passing daily candlestick close, CRYPTOCAP:BNB gets squeezed more, suggesting a steady decline in volatility. These types of continuous consolidation in price actions are usually followed by a massive breakout, and that’s what awaits $BNB. Binance Native Coin CRYPTOCAP:BNB price Sets for Breakout Binance Coin price spike up 63% between March 6 and 16, setting up a local top at $646. This impressive uptrend, which only took CRYPTOCAP:BNB ten days to go from $394 to $646, was followed by a consolidative phase that exists as of Saturday. Despite the price action from March 6 to June 1 shows the formation of a bullish continuation pattern known as a "Bullish Pennant". The aforementioned 63% rally is the flag pole, and the sideways movement that produced lower highs and higher lows is the pennant. The forecast for this setup is determined by adding the flag pole's height to the breakout point. In Binance Coin’s case, assuming the breakout occurs at $616, the flag pole’s height shows that the Bullish Pennant target for BNB is $900. This ambitious target is roughly 45% away from the all-time high of $692.90. However, if the market outlook worsens, sending Bitcoin ( CRYPTOCAP:BTC ) price down to $60,000, then it could disrupt the Binance Coin ( CRYPTOCAP:BNB ) price movement, leading to a bearish breakout. This move would invalidate the bullish pennant pattern. In such a case, CRYPTOCAP:BNB could slide 9% and retest the $526 support level. A daily candlestick close that flips this support into a resistance level, would validate the potential start of a downtrend.
Long
by DEXWireNews
Binance Coin - Is the rally already over?Hello Traders and Investors, today I will take a look at Binance Coin . -------- Explanation of my video analysis: Binance Coin is currently clearly retesting a major resistance at the previous $700 level which was also the all time high of Binance Coin. Since we did not see a break above yet, there is simply a higher chance that we will see a (short term) move lower. If you are not in a position on BNB yet, you can potentially use this anticipated drop to enter a fresh trade. -------- Keep your long term vision, Philip (BasicTrading)
BINANCE:BNBUSDLong
by basictradingtv
3
Binance Coin (BNB): The consolidation of a powerful asset.The BINANCE:BNBUSDT , one of the largest crypto capitalizations, has unquestionably been an extremely strong asset since the start of the year. We can see that it is currently consolidating in a symmetrical top triangle, a chartist figure favorable to the continuation of an uptrend. The Magic Bands (PMB) had given a very good sell signal at $630, and we can see that the cloud has remained green despite its correction. A green cloud means an uptrend, so everything seems to be going well for this asset, which has been in this trend for almost 200 days, with a very nice buy at under $230! Note also that, despite its rise and strength, BNB is no longer in a period of distribution or attention according to Supreme Vision (BSV) .
Long
by Blockunity
Binance Coin BNB Intraday Trade SetupBinance Coin is in the bullish territory in the H4 chart. A bullish break-out of $603 will offer more upside towards $619 where the price action will be key. A re-test of $590 followed by a bullish rejection will lead to a bullish move towards $619 and, possibly, higher to $646-$658. An inability to sustain price action above $590 will result in a range-bound price action towards $577 and lower to $565, the key intraday support. Find more info in signature.
Long
by Trade-Lean
BNB/USD The entire primary trend.Logarithm. Time frame 1 month. Idea for understanding the main trend, secondary trends. Zones of accumulation and distribution of this asset of the most liquid and popular exchange (this is the main thing, the direction of thinking of the masses on a scale). Setting trends in the crypto market. This is how the trend of this crypto coin with its own blockchain of the Binance exchange looks like on a line chart. Potential news background in the future under the chart for price direction. 1️⃣Manipulation with the price of which (influence on the exchange and the turnover of billions) can very significantly affect the market as a whole, especially when the SEC announces that this cryptocurrency of this exchange is "outlawed" and is a "security" (the scenario of "probing the reaction" has already been launched in March 2023 for local corrections) or similar nonsense. 2️⃣Also remember the competition between the two superpowers, China and the United States, they will alternately supply each other with spokes in the wheels, as well as local news springboards for themselves (the race to monopolize and control cryptocurrencies, taxing, and so on). Percentage decline from price peak. Liquidity. The game is good/bad. Notice the % reduction. It has been preserved (liquidity, trust, suggestion) unlike other exchange tokens due to the good/bad play between the Binance (BNB) and FTX (FTT) exchanges. The sinking of the latter, and the redirection of financial crypto flows to the Binance (BNB) exchange from other exchanges (direct marketing about the reliability and unreliability of others, the disclosure (that's right) of some exchange wallets with large balances (the largest in the cryptocurrency market). Decentralization or centralization? State. Supervision. The right to create money out of nothing. It's all pre-planned game, it's not an accident. Think about how the state and the digitalization process in general are connected with this. After all, such billions of dollars of financial flows to liquid exchanges, as well as the control of USDT / USDC (and other small stablecoins) cannot be outside state supervision. Who thinks otherwise I feel sorry for you in the future. Think about what would happen if the "state" gave the right to create money out of nothing to someone else. Is it possible? I think no. Is it a mimicry of new experimental trends to improve the financial system. And it is right. 📊Technical analysis. Secondary trend. Zones of accumulation and distribution. Look first at the monthly time frame (publication), then below the local area chart (weekly time frame, less makes no sense). Please note that the price is now at the lower zone of the ascending channel, there is a small "drop-out" from the channel on the monthly time frame (this is important). A flat with a % step between levels 218 - 327 has been going on for 14 months (426 days!). Now the price is near the lower zone of this flat trend (1311% of the average price of the previous set, not a minimum). What do you think, gentlemen, is this accumulation or distribution?). 📊Technical analysis. Local reversal zone . Candles. Time frame 1 week. 📊Technical analysis. Local reversal zone . Linear (to show the trend). Time frame 1 week. 👁 Coronavirus. Super dump 03 2020 I would like to turn your attention to the time of the March 2020 corona dump. Here, the logic is very clearly visible on the chart of this exchange coin (direction of financial flows, creation of liquidity, development of the exchange, attraction of new users). Long-term accumulation and super removal in the moment. Removal of all stop-loss under the accumulation zone at the moment by a huge percentage. Continuation of the set after that (I remember at that moment everyone was waiting for a further decline in the market, psychology). This is how this super dump looks on a line chart and is irrelevant from the position of the general trend. No matter how scary it was for some market participants at the moment. Always remember this and be prepared, whether you believe it will happen or not. 📊BNB/BTC. Technical analysis. Reversal zone . Candles. Time frame 1 month. BNB/BTC Main trend in full. Channel. Reversal zone. 📊BNB/BTC. Technical analysis. Reversal zone . Linear (to show the trend). Time frame 1 month.
BINANCE:BNBUSD
by SpartaBTC
38
Binance Coin - A 10.000% TriangleHello Traders and Investors, today I will take a look at Binance Coin. -------- Explanation of my video analysis: After the beautiful break and retest on Binance Coin back in 2020, we saw an insane rally of roughly +10.000% towards the uspide. Then BNB topped out in the beginning of 2021 and created a descending triangle formation. We saw a bullish breakout on Binance Coin just four months ago and maybe we can even see a similar move of 10.000% towards the upside from here. -------- Keep your long term vision, Philip (BasicTrading)
BINANCE:BNBUSD
by basictradingtv
4
BNB Faces Potential Sell-Off Following CZ's Sentencing TodayThe news of Binance's billionaire founder, Changpeng Zhao, being sentenced to four months in prison after pleading guilty to charges of enabling money laundering at his crypto exchange could potentially trigger a selloff in BNB. This development raises concerns about the governance and regulatory compliance within the exchange, which may lead investors to reassess the risks associated with holding BNB. Uncertainties surrounding the impact of Zhao's absence on Binance's operations and future prospects could further contribute to downward pressure on BNB prices in the near term. My price targets are: $510, $425 and $315.
Short
by TopgOptions
Binance CEO CZ Sentenced to Four Months in Prison, BNB Drops Binance's CEO Changpeng Zhao has been sentenced to four months in prison. CZ Set to Spend Four Months in Prison After pleading guilty to one count of violating the Bank Secrecy Act earlier in November 2023, the former Binance CEO in the person of Changpeng Zhao was sentenced to four months in prison by Judge Richard Jones for failure to establish robust anti-money laundering procedures. The judge rejected the DoJ's 36-month sentence request to reach to the decision. He said, "There needs to be an effort by this court to impose a sentence that's appropriate and reasonable." Considering Changpeng Zhao pleaded guilty and cooperated with authorities, the Federal sentencing guidelines set a maximum sentence of 18 months — under normal circumstances, such a charge would carry up to 10 years in prison. The Department of Justice requested a three-year sentence, arguing that the Binance founder willfully allowed illegal trades on the world's renowned crypto exchange Binance, failed to report thousands of suspicious criminal activities and garnered profits of around $1.6 billion from such transactions. In contrast, CZ's team requested probation and proposed house arrest as an option. After the court hearing, Judge Richard Jones disagreed with the DoJ's request to extend the sentence to three years, stating, "There's no evidence that the defendant was ever informed of illegal activity," . In response, the Department of Justice argued that CZ was aware of illicit activity. While the judge seemed to agree with the 10-16 months prison sentence and 1-3 years supervised release recommended by the Probation Office, the Department of Justice attorney argued otherwise. The Department of Justice stated that it would serve as an incentive for others to break the law on a large scale. The defense attorney reiterated CZ's and Binance's compliance throughout the process. Binance agreed to pay $4.3 billion in fines, while CZ would pay $50 million — a fraction of his $33 billion net worth, according to Forbes. After several exchanges, the judge rejected the DoJ's request for three years and sentenced CZ to four months in prison. CZ's sentencing comes off the back of former FTX CEO Sam Bankman-Fried’s 25-year prison sentence for his role in the collapse of the FTX exchange. In the forgeoing lawsuit, CRYPTOCAP:BNB is showing recovery signs after bouncing from a low of $556.20 to $570.60. The general crypto market is gearing up to the news, considering CZ's and Binance's wide influence in the space. Many expect the crypto market to see a slight recovery from recent dumps following CZ's short sentence.
by DEXWireNews
BNBUSDT.4HIn the 4-hour chart for Binance Coin (BNB/USDT), BNB is trading within a range, with price action fluctuating between support and resistance levels. The resistance (R1) at $652.6 represents the upper boundary of the range, while the support (S1) at $496.1 acts as the lower boundary. There's an additional support level (S2) at $349.9, marked by earlier price interactions. The current price is at $606.1. The RSI is at a neutral 58.56, suggesting that there's room for movement in either direction without being in the overbought or oversold territory. The MACD is hovering around the signal line, indicating a balance between buyers and sellers with no clear momentum. For traders, watching for a breakout above R1 could provide a bullish signal, while a break below S1 might suggest bearish momentum. The strategy could involve entering trades following a bounce from S1 or a breakout above R1, with appropriate risk management measures such as stop-loss orders. Confirmation from trading volume would strengthen the signal for entry.
Long
by MarsSignals