Binance Collapse: FTX Collapse Pattern Projected to nowIf binance collapses which they probably will base on their non existent business model and chart, it looks suspiciously like the FTX collapse.
BNB
Range-Bound Trend and Support Levels AnalysisDuring the previous week, the BNB cryptocurrency experienced a consistent sideways movement accompanied by low trading volume. The currency's trend can be observed within a range channel on the weekly chart, while it has declined on a daily basis due to the formation of lower resistance and support levels. Binance Coin currently has two significant support levels. The first support has been present on the chart for an extended period, ranging between $200 and $215. The second support, intended for scenarios with increased selling pressure, is located within the price range of $190 to $195. It is anticipated that the forthcoming days may reveal signs of a trend change near these support levels. Consequently, the price level of $200 holds potential as a favorable demand zone for Binance Coin. In the short term, given the limited demand, there is an expectation for the previous support level at $220 to be breached.
Binance Coin BNBUSDT Price Analysis (w)Introducing the weekly chart of Binance Coin for our dear community!
In 2018, the price of BNB found strong support at the $8 level, resulting in a sideways movement throughout the year. Similarly, we are currently witnessing a significant support level at $220, accompanied by a similar pattern and movement reminiscent of 2018.
Based on this observation, our analysis suggests a potential drop in price towards the range of $115-120, aligned with the rising support line visible on the chart.
However, the future movement of BNB remains uncertain. It is worth noting that historical performance shows that BNB has not only reached its previous all-time high (ATH), but has also broken it, setting a new ATH in May 2021. This suggests the possibility of further price advancements.
Stay tuned for further updates on our analysis of BNB. Thank you for your attention.
Fire Sale on BNBOn the 4H TF we can see a Head and Shoulders pattern.
The target of this H&S is the 223 USD support level.
IF the 220 – 223 USD level doesn’t hold, next support levels are:
• 205 USD
• 182 USD
Be sure to take advantage of this opportunity.
I am still not posting a trade. I need more clarity. However, if you are a holder, I think that buying spot BNB at these prices is a golden opportunity to DCA. Start at 223 USD and increase position size if it dips further.
NFA
What do you think? Please share in the comments.
Best wishes to all.
Crypto capitulation eventThis is the capitulation event for crypto that I was waiting for.
My previous Bitcoin idea and target are still valid, anyone long right now is going to get wiped out by the crash of Binance coin.
I’m currently short. I also shorted Bitcoin and sold most of my alts here.
If wrong then I will buy back higher on bullish structures.
Even with the massive pump Bitcoin had here, Binance coin wasn’t able to invalidate the bearish structure. Absolutely terrible performance.
Binance is still being sued, BNB is being artificially pumped by “someone’s” creative syphoning of client money. “Allegedly”.
This pump was extremely profitable for me on my alts, an absolute lifesaver of a hedge. Sold most, will use profits to buy lower.
BNB: Approaching ResistanceBinance (BNB) technical analysis:
Trade setup : Bearish breakout from Rising Wedge pattern and below 200-day moving average (~$300) signaled bearish trend reversal to downtrend. Then it got very oversold (RSI < 20) near $225 support and bounced up to $260 resistance where it got rejected so far. Now we wait for price to dip back near that $225 support for another swing trade. It’s a higher risk swing trade setup since overall trend is down.
Trend : Downtrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI < 45 (Bearish).
Support and Resistance : Nearest Support Zone is $220. The nearest Resistance Zone is $260 (previous support), then $300
BNB/USDT 4H Interval ReviewHello everyone, let's look at the BNB to USDT chart on a 4-hour timeframe. As you can see, the price is above the local downtrend line.
Let's start with the support line and as you can see the first support in the near future is $240.3, if the support is broken then the next support is $237.8, $235.7 and $233.6.
Now let's move on to the resistance line, as you can see the first resistance the price is fighting is $243.8, if it manages to break it, the next resistance will be $246.4, $248.6 and $250.8.
Looking at the CHOP indicator, we see that there is still energy for the move, the MACD remains in a downtrend, while the RSI is in the middle of the range, which may indicate a temporary sideways trend.
BNB LTF Analysis – 23.06.2023
Yesterday, on June 22nd, BNB failed to break the resistance of 21D EMA and the upper boundary of the Ascending Triangle.
Consequently, it also lost the triangle’s upward sloping trendline. During the Asian session BNB tested the diagonal line resistance.
I am in no way bearish about BNB, but I think that BNB will go a bit lower before it tries for higher. These are my reasons:
Bearish Momentum: BNB is below the 21D & 50D EMAs. As long as BNB is below these EMAs the bearish pressure is pushing price down.
A break below a diagonal support is usually a sign of weakness.
I don’t advocate for trading correlations , but I don’t ignore them either. BTC is looking top heavy, and I expect it to pull back to the 28K level. IMO, BNB in its current state cannot overcome such headwinds.
Lastly, Today is Friday , I expect many long traders to cash in on their longs and retire for the weekend. If this happens, the bearish pressure all over the market will increase and BNB will suffer.
The first sign of a recovery is if BNB reclaims the trendline. If BNB reclaims the trendline and pushes up, the bullish case for BNB will become stronger.
Support Levels:
BNB can reverse. BNB is a strong asset with substantial upside potential. As long as the uptrend in the general crypto market holds, I do not expect BNB to drop below the 220 USD Level. However, if BNB does drop to the 180 USD level, I will go balls deep into BNB spot. IMO, this is the best asset in the Altcoin category.
238 USD (low confidence)
231 USD (medium confidence)
220 USD (high confidence)
Bitcoin - the perfect working out of the downward channel!Hello trader! Today I have a new idea for you. Like and subscribe to the channel, there is a lot of useful information.✅
Another formation that I talked about a couple of days ago before this powerful run, the “down channel” is another pattern that constantly works out on higher timeframes.
Technical: We didn't confirm the bottom of the pattern at $24,300 but we had confirmation on the falling wedge which I also wrote about in my feed. The exit from the channel turned out to be perfect, you can see the chart for yourself)
At the moment we have support in the range of $28,350 (+ -) as I said earlier that after such a strong momentum we should expect the price to pull back. If the support fails, then the next support level will be $27,350-$27,500, a strong mirror level.
At the moment, I locally expect the continuation of the upward movement and, as you already understood, this may happen through a slight decrease (not a signal to go short!) and we will stretch the global 0.5 Fibonacci.
Bitcoin - The Perfect Wedge WorkoutHello trader Today I have prepared a new idea for you. Like and subscribe to the channel there is a lot of useful information✅
Friends, I still waited for the cherished $30,000, the take-off for someone may have been unexpected, but I wrote about it for a month and gradually averaged the LONG position.
Technical: bitcoin broke through the $27,350 resistance (upper part of the wedge) and we saw a sharp rise in price to the $30,000-30,500 zone, the perfect wedge working out. take note for yourself of similar patterns in trading, they help to understand the development of levels well.
I fixed 80% of my position and managed to withdraw 51% of the deposit with 3X leverage. I think this is not a bad result of a positional trade.
I will leave the remaining 20% until a possible test of the $31,500-$32,650 zone, the stop put in plus at $27,350.
Thoughts so far are: it is definitely worth waiting for a rollback, perhaps even by 1000-1500 points (not a signal to go short!) After such a strong growth. At the moment, the $28,350 zone does not look like a bad support from the technical side, perhaps the reaction of the buyer above the previous $30,990 High will come from there.
Aca getting ready For 250% Bullish Rally Aca Just Started Its Not Over Testing Descending Trend line In Daily Timeframe Incase Of Breakout Expecting 250 - 300% Bullish Wave In Midterm
BNB LTF Long Trade
BNB broke out of the Ascending Triangle to the upside. It is currently testing the 253 USD level for support.
If BNB manages to flip 253 to support, it is a long trade, IMO.
If BNB doesn’t manage to break out, I think we will go lower to around 246 USD and try again from there.
If it breaks down from the triangle, I will reassess the situation.
Read my previous BNB ideas for more context.
NFA
What do you think? Please share in the comments.
Best wishes to all.
BNB/USDT 1DInterval ReviewHello everyone, welcome to the BNB review on a one-day interval. As we can see, the price left the bottom of the uptrend channel marked with blue lines, what's more, leaving the channel downwards also gave a drop below the EMA Cross 20o and thus a return to a strong downtrend.
Let's start by marking the support spots for the price and we can see that first we have a very strong support zone from $240 to $210 which is currently holding the price, however if the price goes lower we can see a drop to around $172.
Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that the price is currently fighting the first resistance at $251, the second resistance is at $270, the third is at $286, and further we have a very strong resistance zone from $301 to $323.
The CHOP index indicates that the energy is gaining more and more strength, the MACD indicates a return to an uptrend, while the RSI had a strong rebound and now we can see a rebound, but also that there is plenty of room for the price to continue to grow.
BNB LTF Analysis
BNB is moving in an Ascending Triangle.
BNB managed to get above the 21 & 50 EMAs on the 4H.
The area between 253 – 267 is strong resistance. Above 267, the risk of a breakdown is much reduced.
IF BNB fails to break through resistance the next supports are:
238 USD.
231 USD.
220 USD.
In my opinion, BNB’s outlook is positive, and I do not think it is likely to drop below the 220$ level.
NFA.
What do you think? Please share in the comments.
Best wishes to all.
Bitcoin - Downward Channel Breakout Coming Soon! This is growth!Hello trader! Today I have a new idea for you. Like and subscribe to the channel, there is a lot of useful information.✅
Friends, let's go over bitcoin from the technical side again.
I previously shared this channel when the price was flying to confirm it from below, but it never happened. But we have confirmed another pattern - "Bull Wedge". You can also find it in the feed.
So, if we talk about the downward channel that we see on the chart, then it is likely that this week we will be able to confirm the upper boundary of the formation and even go beyond this channel. This could trigger a rally and a breakdown of resistance at $27,500 and above!
There is also another scenario. If you look at the last three daily candles, which I have underlined with a black line, then you can consider them as temporary support. We are now seeing a small bounce off the $27,160 level, which could take us back to the temporary support zone in the $26,250-$26,300 range.
BNB - trend line test as a support level.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 small update to the BNB chart on an older timeframe.
The technical asset continues to stand at the global support level, from where there is no big reaction of the buyer and seller yet. Although bitcoin has already bounced off and showed an increase of a couple of thousand points, altcoins have not changed much yet.
So, what am I talking about, on the chart we can observe the global countertrend line, which currently acts as a support level on the weekly TF. Another setup for BNB to bounce back and go above $300.
BNB Recovery Roadmap• It is not the first time it seems like BNB is up against the ropes. In November/December 2022 BNB faced some serious headwinds following rumors about Binance being insolvent. The affiliation between Binance and BNB coin caused a 30% drop in BNB’s price.
• Experience shows that these FUD cycles are a great buying opportunity if you can take the pressure. Then and now, we do not know where the bottom is. However, we can use past experience as a guide to future recovery.
• On December 17th, price was at 220 USD and the RSI was at 24.83 (oversold level). Today, BNB is at the same price and the daily RSI is at 17.6, extremely oversold. While I cannot say with certainty that a bullish reversal is imminent, I think it probable.
BNB Recovery Roadmap:
• I took the fractal from BNB’s last recovery and coupled it with current EMAs, and daily support and resistance and the picture makes sense to me. I hope it does to you as well.
• Step 0: Hold Support. This is a precondition. BNB must hold the 220$ level to allow price to recover. Further price drops will make BNB’s recovery much harder and slower.
• Step 1: Above 4H 21 EMA. BNB must get above the 4H 20 EMA and hold the level to reduce immediate bearish pressure. If BNB does that, we can begin to feel optimistic about a possible trend change.
• Step 2: Above the 4H 50 EMA. If BNB can get above at the 4H 50 EMA and consolidate that level for a short time, like it did in the past (blue dots), I think it qualifies as a Change of Character and sign of bullish reversal.
• Step 3: Above the 20D EMA. If BNB can get above the 20D EMA and flip the 270 – 280 USD level to support, I will be confident that BNB is on the mend.
• Step 4: Above daily resistance. The 308$ level held BNB back throughout the month of May and the beginning of June (orange circle). If this level flips to support, we can aim for the range high.
Is Bitcoin Ready to Break $38,000? Bullish Flag Pattern SuggestsBitcoin Technical Analysis: Key Levels and Price Targets
Bitcoin (BTC) is currently trading at $27,000, and in this technical analysis, we will delve into the formation of a bullish flag pattern in the daily time frame. Additionally, we will examine the significance of key resistance levels and discuss potential price targets. Please note that this analysis represents an opinion and should not be considered financial advice. As an investor, it is crucial to conduct thorough research before making any investment decisions.
Formation of a Bullish Flag:
BTC is exhibiting a bullish flag pattern, which is a continuation pattern observed after a significant price increase. This pattern indicates a temporary consolidation before the upward trend resumes. Traders are closely monitoring the breakout of Resistance 1 at $27,300. A candlestick close above $27,500 would be an encouraging sign, potentially driving the price toward the next target of $31,000.
Significance of Resistance Levels:
During the previous bear market, the $30,000 level served as a robust support level. However, it has now transformed into a formidable resistance. Breaking above the current resistance level of $30,500 could signify a significant breakthrough and may lead to further upward momentum. This breakthrough has the potential to propel Bitcoin toward the next target of $38,000.
Potential Price Targets:
If BTC successfully surges past the $30,500 resistance, the next likely price target for Bitcoin would be $38,000. However, it is crucial to monitor the price action around the current resistance level of $27,500. In the event of rejection at this level, Bitcoin could retest the support level at $24,000.
CryptoPatel Key Levels:
To navigate Bitcoin's potential price movements, traders should be aware of the following key levels:
Support: $24,000
The $24,000 level has previously acted as a strong support level and could be tested again if BTC faces rejection at the current resistance.
Resistance 1: $27,500
Breaking above this resistance level is crucial for Bitcoin to gain momentum toward the next target of $31,000.
Resistance 2: $30,500
This level represents a significant barrier, as it was previously a strong support level during the bear market. A successful breakthrough could signal a bullish trend toward $38,000.
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The simplicity BYBIT:BNBUSDT.P
I want to talk about the simplicity of this bottom on BNB. Obviously, everything we think we know about the markets is uncertain ALWAYS. uncertainty is very important for you to come to realize. once you focus on uncertainty and make it a main priority of your life you will then come to realize how close your relationship with uncertainty will become. you will also take the trades set out for your plan without hesitation, you will not feel as much hardship when a trade doesn't go your way. Once you stop looking for that quick spell and focusing on the real things like your own psychology, physical health, and little topics (the art of uncertainty) you will finally excel in your trading and everything else around you will follow. The simplicity of this bottom is that it's at a perfect spot that meets my criteria and I'm in without hesitation because it's uncertain anyway, right? shoot your shot to be on your way and take the trades.
thanks guys.
BNB 4HWith all the news surrounding Binance and its SEC battle that lay ahead I thought I'd look at a potential BNB trade.
We've seen the coin drop from the $300 mark in a pattern of huge sell off followed by consolidation, then sell off again until we've reached the ascending triangle pattern I have shown on the chart. This pattern is very close to breaking down and I think will result in a retest of the Local low that was set at the end of last year and was briefly tagged recently on June 12th.
There is a clear range that can be split into quarters to help mange this trade. If the triangle pattern is lost, the midpoint will need to provide support, if it does not BNB will retest the $220 in my opinion. From there $180 is the last chance at support as it's nothing but air after that, BNB will be in freefall.
On the bullish side all this downwards price action has left a lot of inefficiencies in price that will eventually be revisited, I just don't think it will be soon given the outside forces acting upon the coin. If BTC has a huge rally from here that's BNB's only hope.
BNB on the nice demand zoneIn order to collect liquidity, it can go to the demand area once more and after that it will grow upwards to the specified areas, be sure to take a position with the entry confirmation.
BNBUSDT.1DHello dear friends,
*Mars Signals Team wishes you high profits*
This is a one day time frame analysis for BNBUSDT.1D
We are in the daily time frame. As you can see, the price took a bearish trend after breaking the white line and is trading in our first support zone. We expect the price to support at this level and move towards our first resistance line. But if it breaks completely from our support line, we expect further declines.
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
