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BNBBTC trade ideas

BNB/BTC (Weekly Bullish Engulfing Candle)BINANCE: BNBBTC -Binance coin broke the midterm resistance at 0.00240 sat -This is an engulfing Bullish if the weekly candle closes above -Can we expect a pullback to test old resistance becoming new support? -If the next candle is also Bullish then it will not happen in the near term -It is more likely to test the resistance at 0.361 sat before seeing a correction -I'm not saying BNB will go straight to ATH so please don't FOMO! -The market will not go straight up, wait for a proper pullback if you want to enter -Plan your trade before executing and calculate how much risk you are willing to lose ^Trading involves High Risk ^Not Financial Advice ^Please exercise Risk Management **If you like my daily Published Ideas **A little help by supporting my Channel **Through leaving a Thumbs Up, Comment & Follow **Happy Trading! --> Thank you! :)
by PolarHusk
10
And for that reason, "I'm out"I've noticed a lot of ideas being shared of "Long" on BTC in the past 24 hours.. and most are with regards to daily and weekly. So I get it and I agree. But everything percent matters to me right now. If we want to get technical instead of personal attacks, this will pull back towards the Kijun and MA... so I'm out for a quick short that will only last a few hours and we pull back from the scrubs entering. RSI tells the same story. Likely will ride that OMG or other moves til this simmers down some.
Short
by Shadowlytics
1
BNB needs to retest 21 EMA (hourly chart analysis)BNB had seen a pump after a short period of re-accumulation -- where the green w-like pattering is marked (bought earlier at breakout back over the red 21 EMA). Cyber Ensemble SELL signal has now been triggered. PRISM oscillators looking bearish in the short term as well -- overbought (red background), and with the AJ-Ribbon falling with widening gab between the limegreen jerk-line below from the red-acceleration-line above, pulling momentum down. The middle Snap-like had already plunged negative. BNB will need to drop at least to the 38.2% Fib level, where the red 21 EMA is at. This is also roughly where the previous local high was at as well as where the green Ichicloud is approaching. If the 21 EMA fails to hold, expect to drop down to 61.8% Fib level where the green 50 SMA is also at. Bearish if 50 SMA fails to hold and bearish target is at thick orange 200 SMA line.
Short
by cybernetwork
1
Binance Coin Conquers EMA50, Up 184% TargetBinance Coin (BNBBTC) is looking really strong with prices now trading above EMA50. The last time BNBBTC moved above EMA50 a 290% bullish wave followed. Last week prices closed above EMA50 on a very strong green candle with the highest volume since July 2019. The RSI is very strong at 67 while the MACD allows for additional growth. Any trading above EMA50 for BNBBTC and we remain strongly bullish... All the targets are marked on the chart. Previous analysis: www.tradingview.com Feel free to hit LIKE to share your support. Namaste.
Long
by AlanSantana
8
BNBBTC Binance Breakout Altcoin Buying Trade & InvestmentBNBBTC (Binance Token) is breaking out and likely to go on a multi-months run, a great opportunity to multiply our BTC holdings. Today I'd like to analyze the trading pair BNBBTC and make the case that Binance Token is at the beginning of a major bull run. BNB is the token native to the Binance exchange, and is used for trading fees and participating in IEOs (initial exchange offerings) for projects on the Binance Launchpad. In the current bull run, many altcoins have had huge runups, increasing by 5x, 10x, 50x, 100x or more relative to Bitcoin. BNB is among a handful of well established tokens that haven't had a visible run against Bitcoin. Fundamentally, there are a number of developments that are in favor of BNB starting a bull run and catching up with the rest of the altcoins: 1. Google trends are showing a spike in the search term "buy altcoins", suggesting a renewed retail interest in altcoin speculation, with a new wave of newcomers into this space. While DEX (decentralized exchanges) have seen huge progress in the past couple of years, centralized exchanges, especially Binance, is still a go-to exchange for most, especially amongst those newer to the crypto market 2. Binance is making moves to cash in on the successes of Defi (Decentralized Finance). Binance will launch a DEFI/USDT composite index perpetual contract at 2020/08/28 7:00AM (UTC). This index consists of a basket of Defi protocol tokens listed on Binance, and traders can leverage up to 50X. This is sure to bring increased interest and trading volume to Binance, hence increasing the demand for BNB to use for paying trading fees to save on trading fee costs. 3. Upcoming Binance Chain Mainnet upgrade that will support new business logic such as BNB staking, cross-chain transfer, and on-chain governance. This upgrade should have a positive impact on BNB, both from a news/hype perspective, but also more importantly, from a long-term fundamental standpoint. Technically speaking, there are a number of indicators showing that BNB is ready to start a run: 1. Price has broken out of a downward resistance trendline and retested the backside of this trendline on two occasions, and on both occasions, price has bounced off of the trendline, suggesting the resistance has now turned to strong support. 2. Price has closed strongly above the 200MAs just as the 200MAs has flattened, suggesting an end to the downward trend and a shift in momentum from the bears to the bulls 3. Yesterday's candle was a very bullish full body green candle, accompanied by above average volume, suggesting conviction behind the bullish move and likely continuation 4. The 3 targets on the chart are short-to-medium term targets. I believe the pair will run much higher than the 3 take profit targets laid out on the chart. Let me know in the comments below of your thoughts on BNB. Hope this analysis has been helpful in summarizing the opportunity in BNB, from both a fundamental and technical perspective. This is not financial advice, please do your own Due Diligence. I'm just sharing my personal trades. I will be posting ideas on a daily basis (whenever there are trade setups that meet my criteria). Please follow, like, and comment to get daily trade setups and live trade updates.
Long
by cryptotraderog