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BNBBTC trade ideas

BE VERY CAREFUL FOR DOWNTREND!Bnb seems to not affected by much needed retrace in crpyto markets which is not a good sign! One should be very careful with bnb trading if they are long bnb! Bnb is very close to the ATH area and highly overbought right now. Volume is decreasing a lot lately and BTCUSD pair is trending downward hard. Therefore one should not buy from this area and should start taking profits! I expect BNB price to retrace 0.008 areas for healthier uptrend. Right now price action is too hot and volatile. This mean money running from BTC and coming to BNB but if BTC keep losing its value people can panic sell that can lead to huge loss in altcoins! Be very careful and let the price consolidate or even retrace a bit.
Short
by thegreatwall38
BNBBTC ShortWilliam Alligator : the crypto is in a bullish position because the candlesticks start being above the Teeth, Lips and Jaw and the lines are “eating with an open mouth” this indicates that the crypto is in a strong uptrend. RSI : the line is above 70, so the crypto is overbought. Candlestick patterns : there is a bullish engulfing which is a bullish confirmation. Overall : it can be interesting to take a sell position on this crypto because the crypto is overbought. Entry price is lower than the current price for assurance and stop loss is set at 5%.
Short
by lena_vf
BNB INDECISION!Bnb had a huge price action for maybe over a year and in the last couple of months. Bnb price doesnt affected by the market sell off and still consolidating for the last couple days with lower volume. To be honest i really think bnb should go lower before another price spike because it went parabolic and need to chill a bit. I m not buying from this area but i will definitly not short it! Im waiting price action to get out from triangle and then make a decision. Be patience before making any trade decision.
by thegreatwall38
BNB/BTC - Only chart that matters! Expect higher levels!BNB has found a major resistance at around 0.01 BTC and was pushed back. This coincided with a price of $635. Can we go higher? Yes. The BTC pair chart shows that we are in a massive ascending channel that has formed since BNB was launched back in 2018. We have NOT yet reached the top of this channel which was resistance in the past and pushed price back down. As you can see, we appear to be on leg three in a Elliot wave up. As such, I'd expect BNB to continue up until we reach anywhere around 0.02 BTC / BNB which is the channel top. At that point I would be surprised for BNB to continue up. Such a level would correspond to a price of around $1,300/BNB at the time of this post. Time will tell, however I don't think BNB pump is over just yet. Once we reach the top of this channel, it is best to secure profits. Then re-assess. The price action remains bullish. We are quite extended on the indicators, but in such a bull market, we can continue for quite some time until we will correct. Like and follow if you liked this idea! Also join my crypto community to stay in touch!
Long
by DU09
1
Binance Coin (BNB) : Still no signs of slowing down Binance Coin (BNB) was mentioned in our earlier post linked below and so far has increased around 200% in value. It is now showing signs of increasing further with a Bull Pennant Pattern which I will explain below, alongside some of the information from our last post that explains what BNB is and why this token is important in the Cryptocurrency space. If we hold above monthly support and break weekly resistance area then BNB is setting itself up for a potential massive increase. -------------------------------------------------------------------------- What is Binance? Binance is the worlds largest cryptocurrency exchange. Binance was founded by Changpeng Zhao, a developer who had previously created high frequency trading software. 1. What is Binance Coin (BNB)? Binance Coin is the crypto-coin issued by Binance exchange, and trades with the BNB symbol. Binance coin runs on the Ethereum blockchain with ERC 20 standard, and has a strict limit of maximum 200 million BNB tokens. 2. How Is Binance Coin’s Supply Controlled? Binance held an ICO for BNB (basically the same as a IPO ), originally selling 100,000,000 coins to those that wanted to participate. The founding team was allocated 80,000,000 coins and the other 20,000,000 went to initial investors. 3. How Is Binance Coin Distributed? Each quarter the Binance exchange uses 20% of its profits to buy back BNB. Think of this like a share buy back that a traditional company would engage in. Binance will then destroy these coins (this is called a coin burn), in turn reducing the supply until 100,000,000 BNB remains outstanding. All in all, half of the originally issued coins will be destroyed. 4. Why is this positive for BNB ? The rules of Supply & Demand tell us that when the demand of an asset outweighs the currently supply, we often see a increase in prices. In BNB's case, first of all the tokens supply will be lowered over time with the BNB Coin burn described above: almost by half. Cryptocurrencies and Crypto Trading continues to increase in popularity and with Binance positioning itself as the #1 Crypto Exchange Worldwide one can only expect the demand to use BNB Token will increase, because BNB is used to power the Exchange Ecosystem, with features such as fees discount & digitized loaning & staking the growing user base will want to use more & more BNB token to lock in their fee discounts and receive potential rewards. Today more staking was announced which seems the perfect timing for more growth: www.facebook.com -------------------------------------------------------------------------- Bull Pennants are a little different to Bull Flags but are almost identical in appearance and are traded basically the same. The most important factor in identifying any flag or pennant pattern is the clear "staff" or "flagpole"; there should be a straight run upwards leading up to the pattern or it is not a valid pattern. After the straight run upward price starts to Zig Zag between two converging trendlines forming a tight wedge (it can be slanted, or even symmetrical) until the price "breaks out" above the upper trendline signifying a possible continuation in trend upwards. Bull Flags and Bull Pennants have the highest success rate out of any pattern and work extremely well when paired with long term support & resistance areas. Enter at the invalidation point of the pattern (A), second entry on the bullish retest (B). Pennants that are “tighter” have higher success rates, look for patterns forming on top of long term resistances (not below) to increase probability of success also. Pattern height is measured and added to swing low before breakout for possible target. Sometimes large size traders can generate liquidity by faking out under the pattern support as we can see on this current example with ADA. The liqudity generated by triggering stop losses underneath the pattern can fill large position sizes for whales and is a good indicator for a long once the price confirms support back inside the pennant . Some key points: • PRICE MUST MOVE STRAIGHT UP BEFOREHAND • MIN 2 Touches each side on almost symmetrical looking wedge • HIGH SUCCESS RATE • BEST ENTRY IS often when price fakes out under support (Marked at A) • Pattern height is measured and added to swing low before breakout for possible target
Long
by Worth_The_Ri5k
11