Monthly Analysis: Binance - This is the bottom.A buy signal cannot be more obvious than this.
- Connect the Low to the High of the 22 month bullish wave.
- The 20 month bearish wave just ended in the perfect convergence
of Candlesticks and Western Technicals to give a buy signal.
- A Hammer candlestick signal creates horizontal support at the low
of the pattern at 0.00102. Not only did this occur on the low of the
Bollinger Band, signaling that the asset is oversold, but it also occurred
exactly at the 78.6% retracement of the up-wave.
- Remarkably, there is a convergence of strong Western Technical sell signals.
The high of the Bollinger Band lines up with the Tom DeMark TDST resistance line.
- Assuming an uninterrupted DeMark bullish wave, I see this asset being bullish
until approximately October/November of this year.
Technical Analysis of Bitcoin appears to be quite the inverse of this. Whether
or not you believe that Bitcoin will go higher or lower, confidence in the stability
and security of the reputable Binance exchange makes buying the Binance token
BNB an easy long.
