BNBUSD trade ideas
BNBUSD- In Bearish TrendBNBUSD in a 30-minutes time frame is in a bearish trend as it is making lower lows and lower highs. We can sell(short) it when it breaks the support of previous lower lows
BNB Possible Double Bottom Trading PlanTLDR:
• BNB is on the verge of breaking out the range high in a possible Double bottom reversal.
• Above the range high is a supply zone between 256 – 266 USD.
• I consider this supply zone as another layer of resistance.
• Wait for a retest of the range high as support and for green dots on the TTM Squeeze indicator before betting the farm on BNB.
Background:
• Between the 5th of June and the June 12th BNB lost 30% of its dollar value.
• On June 12th, BNB reached the selling climax and set the range low at 220$.
• On June 13th and 14th BNB rallied to make the range high at 252$.
• On June 28th, BNB tested the range low as support.
• Until today BNB wasn’t able to successfully break out of the range.
Supply Zones:
• BNB’s downward move was in a “drop, base, drop” pattern. This pattern created two supply zones above the range high.
• The first supply zone is between 256 -263 USD.
• The second Supply zone is between 274 -281 USD.
• Until these supply zones are exhausted BNB’s uptrend can be challenged.
Double Bottom Pattern:
• A double Bottom is a bullish reversal pattern.
• The double bottom is confirmed only after a break above the neckline.
• It is not clear yet if we are in a range or in a double bottom. However, it makes no difference as far as the trading plan is concerned.
Trading plan:
• I am writing this trading plan assuming that we do have a double bottom and that BNB will break above the range high. If the breakout fails, I will look for another entry and update you.
• Pay attention to the supply zone just above the range high. This supply zone will create bearish pressure on BNB and may push the price down, possibly below the range high.
• Don’t buy the breakout. Buy the retest of the range high as support.
• Take profit or move your SL before the second supply zone between 273 – 280 USD.
• You mnust look at the volume candles to verify the breakout. A breakout on low volume is, most likely, doomed from the beginning.
• You can use the TTM squeeze indicator (by Beardy_Fred) as confluence. Wait for the green dots as a sign that volatility is back. However, this is a lagging indicator. To make the best use of this indicator, check the LTF.
Trade Idea:
• Entry: 252 USD (only after a retest and green dot)
• SL: 243 USD
• Target: 308 USD
• R: R: 1:5
• TP: 273, 208
NFA
What do you think? Please share in the comments.
Best wishes.
BNBUSD (Daily) - Bullish reversalHi Traders
BNBUSD (Daily Timeframe)
Waiting for the upward break of 257 resistance level, which will complete a bullish trend reversal pattern to go LONG. Only the downward break of 224 would cancel the bullish scenario.
Trade details
Entry: 257
Stop loss: 224
Take profit 1: 277
Take profit 2: 309
Score: 6
Strategy: Bullish reversal
BNB Potentially Down -70%Watching BNB for quite some time now waiting for the coin to drop. Not because I have anything against Binance. It's just the only major coin that hasn't fallen to its lustrum current:
That tells me it's being artificially inflated. Great opportunity to look for shorting opportunities.
Now is the first time I can see multiple signs that now may be the time:
Low Tide Signal
High tides (H) show when there is upward pressure. Low tides (L) during downtrends. BNB is showing the first L since September '19. Back then, the price fell -33%.
Ebb Flow Confirmed
Flow indicated back in March '23 that liquidity was falling (Ebb). We got a short-term bounce in April, then a dip in May; both confirmed. The bounce in June was short lived (so far, at least).
Topping Candles
Just for good measure, we can see that Energy is showing topping markers indicating resistance.
Season (Almost) Crossing Year
The coup de grâce is the seasonal average about to cross the yearly. This usually coincides with about a -50% drop in BNB -- and by usually I mean 100% of the time.
So that's my two cents and I'll be shorting BNB for the next while. I'd love to hear what you're seeing.
What do I do with BNB?TLDR:
• Although the bearish pressure on BNB is reduced. It is not yet clear that the downtrend is finished.
• To confirm a trade reversal, I will wait for a long signal from the TTM Squeeze indicator.
Background:
• BNB is in a continuous downtrend since the 17th of April 2023.
• Fundamental news regarding Binance US has exacerbated BNB’s situation and increased the downside momentum.
• Since June 11th selling pressure has somewhat reduced but momentum is still on the downside.
• If we disregard the wicks, in the past 18 days BNB is moving in an 8% price range.
• This high level of compression is displayed by the TTM Squeeze indicator by the orange dot. The orange dot means the highest level of compression (Keltner channel inside the Bollinger band).
Will BNB’s compression lead to a trend reversal?
• The truth is I don’t know. Nobody does; especially not the trading gurus on YT and CT.
• However, I think that liquidity is to the upside, not down. IMO, candle wicks are the footprint of the MM. Wicks could indicate that MMs are building long positions. The only problem is that I cannot negate another quick move down to shake out the traders that already took long positions.
So, what do we do?
We don’t have to do anything. We wait.
Wait For what?
Trend reversal. A long signal.
How will I know that the trend changed?
1. Bullish RSI divergence.
2. The TTM squeeze indicator is a big help in such a situation. Once the TTM Squeeze histogram moves above the zero line and green dots appear, it’s a sign that volatility is returning.
3. I will also look out for a high-volume green candle and a strong price move away from the range.
Next Support levels:
205 USD.
183 USD.
Resistance:
240 USD.
250 USD.
260 USD.
NFA
What do you think? Please share in the comments.
Best wishes.
Be prepared for the 140 usdtThe decline has not ended yet, and it is assumed that we will go to the shaded area below, including a simple correction, and we will update the analysis at that time.
Note: The analysis fails to close above the 285 usdt
BnbusdCurrently, BNB/USD has just broken through the daily support level, suggesting a potential selling opportunity if all criteria have been met. I anticipate the price will likely move towards 219.66.
Fire Sale on BNBOn the 4H TF we can see a Head and Shoulders pattern.
The target of this H&S is the 223 USD support level.
IF the 220 – 223 USD level doesn’t hold, next support levels are:
• 205 USD
• 182 USD
Be sure to take advantage of this opportunity.
I am still not posting a trade. I need more clarity. However, if you are a holder, I think that buying spot BNB at these prices is a golden opportunity to DCA. Start at 223 USD and increase position size if it dips further.
NFA
What do you think? Please share in the comments.
Best wishes to all.
Crypto capitulation eventThis is the capitulation event for crypto that I was waiting for.
My previous Bitcoin idea and target are still valid, anyone long right now is going to get wiped out by the crash of Binance coin.
I’m currently short. I also shorted Bitcoin and sold most of my alts here.
If wrong then I will buy back higher on bullish structures.
Even with the massive pump Bitcoin had here, Binance coin wasn’t able to invalidate the bearish structure. Absolutely terrible performance.
Binance is still being sued, BNB is being artificially pumped by “someone’s” creative syphoning of client money. “Allegedly”.
This pump was extremely profitable for me on my alts, an absolute lifesaver of a hedge. Sold most, will use profits to buy lower.
BNB USD :where are the areas?Hello. Since 2021, smart money has been accumulating the token at low noise. A short-term drop is very likely to liquidate the stops. But it remains a token with a very bright future.
BNB LTF Analysis – 23.06.2023
Yesterday, on June 22nd, BNB failed to break the resistance of 21D EMA and the upper boundary of the Ascending Triangle.
Consequently, it also lost the triangle’s upward sloping trendline. During the Asian session BNB tested the diagonal line resistance.
I am in no way bearish about BNB, but I think that BNB will go a bit lower before it tries for higher. These are my reasons:
Bearish Momentum: BNB is below the 21D & 50D EMAs. As long as BNB is below these EMAs the bearish pressure is pushing price down.
A break below a diagonal support is usually a sign of weakness.
I don’t advocate for trading correlations , but I don’t ignore them either. BTC is looking top heavy, and I expect it to pull back to the 28K level. IMO, BNB in its current state cannot overcome such headwinds.
Lastly, Today is Friday , I expect many long traders to cash in on their longs and retire for the weekend. If this happens, the bearish pressure all over the market will increase and BNB will suffer.
The first sign of a recovery is if BNB reclaims the trendline. If BNB reclaims the trendline and pushes up, the bullish case for BNB will become stronger.
Support Levels:
BNB can reverse. BNB is a strong asset with substantial upside potential. As long as the uptrend in the general crypto market holds, I do not expect BNB to drop below the 220 USD Level. However, if BNB does drop to the 180 USD level, I will go balls deep into BNB spot. IMO, this is the best asset in the Altcoin category.
238 USD (low confidence)
231 USD (medium confidence)
220 USD (high confidence)
BNB LTF Long Trade
BNB broke out of the Ascending Triangle to the upside. It is currently testing the 253 USD level for support.
If BNB manages to flip 253 to support, it is a long trade, IMO.
If BNB doesn’t manage to break out, I think we will go lower to around 246 USD and try again from there.
If it breaks down from the triangle, I will reassess the situation.
Read my previous BNB ideas for more context.
NFA
What do you think? Please share in the comments.
Best wishes to all.
BNB LTF Analysis
BNB is moving in an Ascending Triangle.
BNB managed to get above the 21 & 50 EMAs on the 4H.
The area between 253 – 267 is strong resistance. Above 267, the risk of a breakdown is much reduced.
IF BNB fails to break through resistance the next supports are:
238 USD.
231 USD.
220 USD.
In my opinion, BNB’s outlook is positive, and I do not think it is likely to drop below the 220$ level.
NFA.
What do you think? Please share in the comments.
Best wishes to all.
BNB 4HWith all the news surrounding Binance and its SEC battle that lay ahead I thought I'd look at a potential BNB trade.
We've seen the coin drop from the $300 mark in a pattern of huge sell off followed by consolidation, then sell off again until we've reached the ascending triangle pattern I have shown on the chart. This pattern is very close to breaking down and I think will result in a retest of the Local low that was set at the end of last year and was briefly tagged recently on June 12th.
There is a clear range that can be split into quarters to help mange this trade. If the triangle pattern is lost, the midpoint will need to provide support, if it does not BNB will retest the $220 in my opinion. From there $180 is the last chance at support as it's nothing but air after that, BNB will be in freefall.
On the bullish side all this downwards price action has left a lot of inefficiencies in price that will eventually be revisited, I just don't think it will be soon given the outside forces acting upon the coin. If BTC has a huge rally from here that's BNB's only hope.
Binance Coin BNB - Going Bull - Last CrashBinance Coin doesn't seem to show the same Bearish patterns as the rest of the Cryptocurrencies.
It appears that it's one step behind on the Bearish Stance.
But can start flying now? YES!
It met all the necessary requirements.
However, if another last bear leg comes, it might as well catch up and reach the Demand Zone in a fast manner.
I'm saying that because when this "thing" drops, it does massive candles.
So, I'm taking my time with BNB .
An awesome level would be $80 , a dream come true for every HODLer out there.
Let me tell you why!
Binance Coin ( BNB , BNBUSD , BNBUSDT , BNBBUSD ) Technical Analysis:
* Elliott Wave Impulse: SuperCycle (a) (turquoise)
* A-B-C Zig-Zag Correction: Cycle Degree (a-b-c (red))
* 88.6% Fibonacci Retracement
* Harmonic Pattern: Bullish Bat
* Bullish Divergence
If that last bear comes, I will add some more to my portfolio.
Moon was just a dream, Mars is a desire.
The real destination: Interstellar.
Stay strong my fellow HODLer.
Richard, the Wave Jedi.
✴️ Binance Coin Likely To RecoverBinance Coin is in the TOP10 and we can use it to gauge the strength of the market.
If BNB recovers, the rest is set to recover.
What one does, the rest follows.
Since Binance is the one receiving the strongest attack, we will call it karma and leave it at that, if it can recover then the easier it is for the rest to recover. As others are being attacked but not as strong.
We have a double bottom here, June 2023 vs December 2022, technically.
The June low is actually a few cents higher while the RSI went to oversold; a hidden bullish divergence.
Yes they are under attack, but an attack is not the end of the world.
Look at BitMEX for example, it was attacked but it survived.
They might have to wind down, maybe even stop some of their scam schemes... who knows, but an attack is not the end of the world.
Cryptocurrency is about freedom and decentralization.
The market can become too centralized at times. Whatever is happening is bound to turn into a positive in the long-run.
Binance, you reap what you sow.
Good luck with your battle.
You will survive, that's for sure.
Namaste.
BNB - Short || EW and Rising Wedge
Rising Wedge pattern bearish
EW Wave count 5 downwards move
LQ zone to be tapped for support re-test
Downwards momentum indicators
Negative Money supply on HTF
BNBUSD Is there any salvation for the Binance Coin?The Binance Coin / BNBUSD had a week of enormous selling pressure last week, touching on Monday Support A (220.00), that was formed on the December 17th Low.
This is a strong long term buy opportunity. Target initially Resistance A at 318.00 and by the end of August Resistance B at 350.00.
As shown, the primary pattern is a Rectangle.
If the price closes under Support A, target Support B at 194.00 on the short term. However given how emormously oversold the 1day RSI got (at 15.00) on Monday, this is unlikely. Still that would be an ever better long term buy opportunity.
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SEC's Impact on BNB, SOL and BitcoinThough the SEC went hard against BNB, it still stands stronger than SOL and Bitcoin is like "Nothing Wrong" which is a good omen.
