BCN looks strong. next move is likely to be upBCN is looking strong as a result of the divergence formation. I expect a move to the upward direction.
Moon333
This is why The Binance Coin (BNB) Won’t Stop Bullish RallyHey friends hope you are well and welcome the new update on Binance coin.
As in my previous post on BNB, I showed that the priceline of BNB coin has formed different harmonic patterns in US Dollar market and the Bitcoin market as well. Now finally by the grace of Allah the most high the price action has moved up and surged more than 98% and both ideas are executed perfectly as per their Fibonacci sequences as below:
Previous article’s Gartley move with US Dollar pair:
Previous article’s BAT move with Bitcoin pair:
On small time period 4-hour chart, since 27 Sep the priceline was moving in a bullish pennant. Now finally it has broken out the resistance and likely to move down to retest the previous resistance of the pennant as support.
The priceline of Binance coin is moving above simple moving averages with the time period of 25, 50, 100 and 200 and using these SMAs as support very well before the next rally.
On long term weekly chart the priceline is moving in an up channel as below:
On weekly chart it can be observed after March 2020 the price line of BNB has surged more than 420% and broke out the ichimoku bearish cloud. At this time the lagging span of ichimoku cloud is moving above the price action and the cloud as well. The conversion line has crossed up the baseline and this bull cross is still in play below the candlesticks of Binance coin price chart. The Ichimoku cloud is also turned bullish.
Conclusion:
All indicators and patterns from daily to long term charts are giving bullish signals. However, we should use the support of the up channel on weekly chart as stop loss to minimize the risk facor.
Algorand (ALGO) | This Can Be One Of The Best Buying OpportunityHey, friends hope you are well and welcome the new update on Algorand coin.
The priceline of ALGO coin has been retraced between 0.618 to 0.786 Fibonacci retracement level after a powerful bullish rally of 222%.
On long term weekly chart strong support can be observed. Every time priceline has rallied to the up side after hitting at this support.
The priceline of Algorand (ALGO) has formed bullish Cypher on weekly chart.
The targets as per Fibonacci sequence of Cypher are as below:
Potential reversal or buying zone: 0.00003233 to 0.00002683 btc
Fibonacci projection or sell zone: 0.00003666 to 0.00004732 btc
On the daily chart the priceline is trying to breakout 200 simple moving average. The safer buying can be after closing above this SMA.
`Conclusion:
As the priceline has completed a bullish Cypher move while reaching at the strong support level on the weekly chart therefore there can be strong chances that the price action of Algo will start a powerful bullish rally from here. However, the potential reversal zone of bullish Cypher should be used as stop loss to minimize the risk factor.
ALGOBTC formed bullish Cypher | Upto 76% move expectedThe priceline of Algorand (ALGO) has formed bullish Cypher on weekly chart, the targets as per Fibonacci sequence of Cypher are as below:
Potential reversal or buying zone: 0.00003233 to 0.00002683 btc
Fibonacci projection or sell zone: 0.00003666 to 0.00004732 btc
Regards,
Atif Akbar (moon333)
