Blood in the Altcoin Streets!Traders,
We woke up this morning with a bloody mess in the Altcoins space although Bitcoin and Ethereum both held critical levels and, believe it or not, I remain bullish on. Let's take a look at these charts and talk about what occurred. Are there any altcoins even worth entering? Which ones? What are some good entry areas?
Stew
BNB
BNB: Oversold at SupportBinance (BNB) technical analysis:
Trade setup : Bearish breakout from Rising Wedge pattern and below 200-day moving average (~$300) could signal bearish trend reversal to downtrend. It is however quickly approaching $220 support area and is very oversold (RSI ~ 30), thus price could bounce up near-term. It’s a higher risk swing trade setup since overall trend is down.
Patterns : Rising Wedge It usually forms after an uptrend and suggests a potential bearish reversal in the original uptrend. When price breaks the lower trend line the price is expected to trend lower. Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout.
Trend : Downtrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bearish but extremely oversold. (MACD Line below MACD Signal Line). RSI is Bearish (< 45) but extremely oversold (< 20), which could imply that price could briefly stabilize or bounce if it reaches Support.
Support and Resistance : Nearest Support Zone is $260, which it broke, then $220. The nearest Resistance Zone is $300 (previous support), then $340.
Bitcoin - Key Level Test!Hello trader Today I have prepared a new idea for you. Like and subscribe to the channel there is a lot of useful information✅
A few thoughts regarding the BTC chart.
On the older TF, the price continues to move in the descending channel zone, at the moment the key level is the range of $25,300-24,600. As we can see, the price is close to this zone, but they don’t want to confirm yet, perhaps they don’t allow to unload positions on purpose.
If you look at the support zones, then we have two local ranges that I noted above ($25,300-24,600) these are the levels from which a technical rebound can be expected, well, you should also not forget about (squeeze) the $25,300 level can be broken through for a test the lower zone of the descending channel (marked with a red line), so be careful if you decide to take long positions.
Altcoins:
As for the altos, of course, everything is sad here so far, I have not closed all the positions that I have previously gained and continue to hold until the best changes in the market.
Guys, now I really understand that they are strangling, all this terrible FUD is a psychological game and it will end soon, in my experience there were many similar situations and with each of them I only became stronger. I stay with you
BNB IS BEARISHHi, dear traders. how are you ? Today we have a viewpoint to SELL/SHORT the BNB symbol.
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You
BNB Are you scared?Another bubble around BNB, anyone who follows me knows that I think it will crash down very hard. But if it wants to liquidate all short positions now, it has an ideal opportunity.
For me, the Binance exchange was the first thing I got to know, in any case, the manipulation of the market within the crypto is disastrous and I am slowly switching to bybit.
Have a nice day friends and let's see if it falls like a stone or if we look up again,
BNB will be bearish for months!Hi, dear traders. how are you ? Today we have a viewpoint to SELL/SHORT the BNB symbol.
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You
Time for $BNB to bounce back!BNB is moving below its significant support of $264 on this 45m candles chart.
The range that it should move should be at $264 - $274 considering the current market situation
If SEC doesn't surprise us with the everyday announcements and the war against the crypto markets I believe that #BNB is going to make a short bounce. If it reaches the aboce mentioned levels, we need to check the charts again to see the next moves.
I would like to read your opinions in the comments.
Are you short or long on #BNB?
BNB 1D Chart : BUY SIGNALI don't generally post anything for the Day chart, purely because it takes so damn long to reach each of the markers.
For the same reason, I'm obliged to point out when a coin does reach those areas because of their significance in terms of offering safe entries and potential gains.
You may have noticed many coins dumping sharply in the last week, and I'm sure there are many wild and wonderful stories in the media about what caused this.
In my opinion, they're all wrong. It's purely as a result of the overall position in the cycle and creating the appropriately proportioned candles in order to adhere to one of the rules of charting; Fractals. If you look at the charts on the 1min - 1hour timescales, you'll no doubt notice, from-time-to-time that coins move more rapidly at the outlying areas, ie. the end of trends, where the reversal patterns can be expected. Go ahead, take a look. Every instance of a reversal, regardless of its scale, there will be what seems like oversized, really aggressive candles that serve as markers for patterns on a larger timescale. This is the reason they move so aggressively, because they're bound by the rules and therefore HAVE to adhere to the fractal requirements and to do so, they often have to travel considerably larger distances (price variation) to get to those "must reach before you can turn around" levels. Now, scale that up to the day chart, keeping in mind that the same fractal rules apply, and what do you get? Outlying, oversized, really aggressive candles that elicit a media response purely for its sensationalist value, causing reporters and pundits everywhere to immediately start looking for the cause, and unfortunately, "seek and ye shall find" is as true now as it was then. Use it, don't use it. Think for yourself and learn to understand what's really going on.
I guarantee you it's not a new SEC sanction, has nothing to do with an Elon Musk tweet and is not affected in the least by what a "whale" decided to have for lunch.
It's an autonomous system, governed by mathematical laws and nothing we do can noticeably affect it. It is what it is and will go where it has to, to complete the cycle and tick the boxes sequentially in order to reach the next destination. This sounds simple, and applying it retrospectively Always makes sense, but it's not.
I'm working on a project that will offer insight to the methodology that has resulted from years of studying crypto charts and applying a novel, unbiased approach.
DM me to join the waitlist.
BNBBTC.1DHello dear friends,
*Mars Signals Team wishes you high profits*
This is a daily time frame analysis for BNBBTC.1D
We are in the daily time frame. As you can see, after hitting our resistance line several times, the price failed to consolidate above that line and moved towards your first support line. Now, we expect the price to support once again and this time after breaking the first resistance line, it can move towards our second resistance line. But if it fails to stabilize above our support line, there is a possibility of a fall to lower numbers.
Warning: This is just a suggestion and we do not guarantee profits. We advise you to analyze the chart before opening any positions.
Take care
🔥 BNB Waiting For Oversold Bounce Break OutBNB has been a leading bearish crypto over the last couple of days, which has most likely to do with the legal issues that both Binance and CZ are currently facing.
Nevertheless, I think that BNB is still a worthwhile asset. With BNB hitting daily oversold (bottom indicator is daily RSI), I'm expecting some kind of bounce in the near future.
The entry signal will be once BNB can successfully close an hourly candle above the dotted purple resistance. Stop below the recent swing low (currently 263) and a target of 300.
Binance Coin is on an Important Support looking for ReversalBNB has indeed revisited the predicted support level, confirming the bearish breakout. This support level holds significant importance, as it has previously acted as a strong buyback zone for BNB. Additionally, there is an identifiable trend line connecting the higher lows, which is currently serving as a support level for the price. These factors suggest that the support zone and the trend line are playing crucial roles in supporting BNB's price at the moment.
Scam exchange Binance - need be afraid of such an event? 😰Attacks from SEC on the Binance exchange continue. What can happen to BNB and the largest cryptocurrency exchanges against backdrop of the ongoing circus with the SEC.
Its important to understand that BNB can only disappear if Binance exchange is scammed.
If this happens, then believe me, a lot of projects will fall off, because the Binance is now, in fact, the so-called crypto market.
📌 Suddenly, someone does not know, this exchange is the main monopolist of crypto industry and it is on it that highest volumes of cryptocurrency turnover take place.
We estimate probability of a Binance exchange scam at only 5%, since the lawsuit is only from the US SEC, and Binance is a global exchange that operates all over the world. So you should not be afraid.
💁♂️ Most likely, many panicked and started selling BINANCE:BNBUSDT BNB, but price fell by only -10%, which is not much for the crypto market.
We dont expect landslide sales for this coin, a maximum of -30-40% from the current ones, and not because of current reasons, but because of the withdrawal of liquidity from the system (read previous posts).
Binance simply will not allow a strong collapse of coin, as this will affect the credibility of their business.
We think that Binance is and will continue to conduct so-called buybacks (buyback of tokens), especially if the price falls.
📌 For an example, just look at how weak the BNB coin fell in bear market.
Do you think the stock exchange has nothing to do with it? We strongly doubt it.
🎯 Technical analysis
Coin is trading above medium-term uptrend and is now testing this trend from above.
The support level of $258 passes directly below trend line.
Above the key resistance level of $339, which price has not been able to break through for more than a year.
In case of panic, the price can break through the trend line down and the support level of $258.
But below is a very important support level of $223 along which the long-term moving MA200w passes. Below is emptiness up to $ 138 ...
The price may well fall to the key level of $223 or even lower, but we think that at any price below this level, the exchange itself will actively buy back tokens, since below it is essentially just emptiness. Therefore, around the $223 level, you definitely need to make purchases, even though it will be very scary!
And for those who do not yet have positions on this coin, it makes sense to make the first purchases now, when fear reigns and the price is right at trend line.
You can find even more profitable ideas in the profile header 🎩
If you are interested in analysis of any other asset - write in the comments and I will do it.
BNB/USDT 1DInterval Resistance and SupportHello everyone, I invite you to review BNB in pair to USDT, on a one-day interval. First, we will use the yellow line to mark the uptrend lines, as we can see the price is currently staying just below this line.
Moving on, we can move on to marking support areas when the correction begins to deepen. And here, the first support that currently holds the price is $257.2, but if the support is broken, we have another support at $230.7, and then a third very strong support at $197.
Looking the other way, we see that on the way up, the price has to overcome a very strong resistance zone from $ 294 to $ 324, only when it positively tests it, we will move towards the resistance at $ 353.8, and then towards the very strong resistance at the price $396.3.
When we turn on the EMA Cross 200, we see that for a long time the price struggled to stay above this level, but the bottom exit resulted in a strong price rebound and a return to the downward trend.
Please look at the CHOP index, which indicates that the energy has been used, the MACD strongly confirms the return to the downtrend, while the RSI can also see a strong rebound where we crossed the lower limit of the range, which may indicate that the current correction is coming to an end.
BNBUSDTBNB's main trend is upward, but in my opinion, in the short term, we will have a correction to the range of 270 to 260. Right now, an important trend line has been broken and after a pullback, I expect the price to drop. If this happens, the next supports can be 285 and 270. You can see the rest of the story in the chart.
⚠️"Daily crypto market analyses I provide are personal opinions & not financial advice. Trading carries risks, so do your own research & seek advisor's help."
Keep an eye on $BNB/USDTRetest already done of the structure and target region marked
Did you find this crypto market analysis helpful? Stay updated about the latest crypto market update.
Please continue to follow my analysis and feel free to ask any queries, you may have. I am here to assist you.
TradingView: @FarmanBangashh
BTC Faces Headwinds 🌬️ Can BNB Rise Above the Storm? 🌩️Bitcoin faces strong headwinds 🌩️ – signaling a downward trend – in the next 24 hours following the US regulator’s latest crackdown on the US cryptocurrency market. Binance Coin, which is the cryptocurrency in the regulator’s sights, faces sunny conditions signaling upside potential. ☀️
Over a one-week horizon, a slightly bullish market with upside potential is expected for both major cryptocurrencies – Bitcoin 🚀 and Ethereum 🌟. Smaller altcoins, such as Binance Coin and XRP 🔥, should also benefit from this bullish mood and have upside potential. 💼📈
Follow us and stay tuned for more crypto weather insights and reports! 🌩️⛅🌈
BNBUSDT.1DHello dear friends,
*Mars Signals Team wishes you high profits*
This is a daily time frame analysis for BNBUSDT.1D
We are in daytime. After a 20% drop due to news and complaints from Binance, which faced pressure from sellers.
Now the price is fluctuating at our first support zone, and if it can maintain this level, we can consider the possibility of increasing the price to the resistance zone. But if the price cannot support and moves below our second support line and stabilizes, we can consider the possibility of falling to the third support line.
Warning: This is just a suggestion and we do not guarantee profits. We advise you to analyze the chart before opening any positions.
Take care
ETH - rebound from the countertrend lineHello trader Today I have prepared a new idea for you. Like and subscribe to the channel there is a lot of useful information✅
I will update the previous idea for ETH, then the entry point was + - the same and the price came exactly to the take profit of $1928.
At the moment, the asset has returned to the range from where I gave a long signal last time, let's try!
Technically, you can try to get a long position with a small % of the deposit (5-10%)
Today I already mentioned this chart on the channel, and as you can see, the support from the trend line works perfectly, but you shouldn’t rush and enter with one limit order or the market, it’s better to take a position with an additional one for another counter-trade confirmation.
Deal plan:
Entrance - 1835/1805/1777$
Stop - $1724
Take Profit - 2020$
P.S: I did not enter the deal myself, because the margin position for BTC is 25% TBX: $25,850