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3X Short BNB Token

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BNBBEARUSD trade ideas

Binance Coin: overbought market is closeIt was a good week for BNB, as the coin managed to reach its short term target at the $300 resistance line. With the latest move, price was moved close to the overbought market, but it still has not been clearly reached, leaving some space for price`s further move to the upside. BNB started the previous week by testing a $250 support line. Minimum price level has been reached at $240, when the coin reversed to the upside and clearly headed toward the resistance at $300. Such a move was clearly marked on the charts two weeks ago. At the same time, RSI was pushed to the level of 68, however, a clear overbought level has not been reached, which leaves some space for the price to test higher grounds. Moving averages of 50 and 200 days continue to move as two parallel lines, still without indication that convergence might soon start. BNB reached its long awaited target at $300 resistance. In the coming days it might be expected for this level to be tested for potential for a move to the upper side. This might bring RSI to the clear overbought market, when the price might start its short term reversal. At this point, there is no clear indication on the charts that the price might go much higher from current levels, within the next few days. In case that price enters into short reversal, then it might head toward $250 support to test it once again.
BINANCE:BNBUSD
by XBTFX
BNBUSDchunk as pennanty thing but its already broken down looks weak tbh would want to see some overall market strength before taking a position however as the structures sitting at the lows technically we could play the higherlow as the stoploss if we think another elliot drive is possible here fundamentally 28th of july is fomc data so prolly should be looking for shorts here more than anything... also august is mtgox final btc unlock could be incredibly bearish if everyone whos returned their btc sells however these are the people who were investing in 2015 well before mass market psycology kicked into full gear so they should be fully aware of the strong fundamentals and understand that leavinng their investment for a few more years would be worth their while my guess is on initial fud downmove then bullish unlock actual event ie btc is returned and not sold this would time up well with speculative eth2 merge and us govmnt stock pump cycle so makes enough sense to me... bnb is an exchange but, considering they hold alot of liquidity its almost like a bank, biggest crypto bank will one day parity with biggest tradfi bank given there are no boarders ie its global.
BINANCE:BNBUSD
by olliecoughland
Binance Coin: $300 is the next target?Binance Coin started the previous week by testing the support line at $250. Soon the coin managed to revert to the upside, reaching the weekly highest level at $276. Next resistance line at $300 has not been tested on this occasion, but with its latest moves, the coin opened a path to this level. RSI was pushed to the level of 65, but a clear overbought market has not been reached. This move indicates that the market will certainly watch this line in the coming period. Moving averages of 50 and 200 days are moving as two parallel lines for the second week in a row, however, convergence has still not started. Technical analysis is pointing that the path toward $300 resistance is currently open. However, in order to reach this level, some short reversal might lay ahead. There is a higher probability that BNB will revert to the support line at $250 in order to test it one more time, before it reverts back to next resistance.
BINANCE:BNBUSD
by XBTFX