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BNBUSD trade ideas

Binance Coin: macro fundamentals are directing price moves During the previous week there was positive news for Binance exchange, that the company is planning to expand its business introducing a platform for VIP and institutional clients. It was also positive that the company is hiring professionals from the crypto industry during a period of time when the majority of its competitors are decreasing in number of employees. BNB did not react to this news, but was following general crypto market sentiment, making a modest move to the upside. This in practice shows how strong the impact of macro fundamentals is at this moment. During the previous week BNB was moving in a line with general crypto market sentiment. Current bottom line has been reached at the $200 support line. Coin entered into a short reversal, reaching its highest weekly level at $241. Resistance line at $250 has not been tested, leaving room for a coin to test it in the following period. The Relative Strength Index moved from the oversold zone, but managed to reach 44. This indicates that the market is still not in a stage of clear price reversal to the upside. Moving averages of 50 and 200 days are modestly diverting from each other, still following downtrend. Technical analysis is indicating potential for a resistance line at $250 to be tested in the coming days. On this path, there is probability for a short move to the downside, in order for the support line at $200 to be tested for one more time, before a final reversal toward the resistance line.
BINANCE:BNBUSD
by XBTFX
1
Binance Coin: moving in oversold areaWithin a single week BNB lost some 29% in value. This came as a result of the negative market sentiment and general push of asset prices to the downside. BNB started the week testing $250 support line but soon managed to break it and finish the week around $190 next support. During the whole week RSI was moving in the oversold territory, around level of 23. Moving averages of 50 and 200 days continue to move with modest divergence from each other and with a clear down trend. Main question at this moment is if the market has reached its bottom in price correction, after which short price reversal might be expected? To answer this question, Monday will be a day to watch. In case that correction is over, it could be expected for the price of BNB to return to the previous significant level at $250. However, if correction continues, there is some probability for a support line at $150. Disclaimer: This article provides exclusive views of the author. It does not in any sense represent a suggestion for trading.
BINANCE:BNBUSD
by XBTFX
BNB - FOR AN OPTIMAL SUPPORT (61$)Fibo Channel. Ones mid channel broken, it is obvious to retrace and complete low volume "pockets", indicated by levels rays. 0.382 channel is a good asking price. If we break it, we might visit a former 2019 ATH (43$). Anyway, the sister company (Binance US) of global cryptocurrency exchange, is facing a class-action lawsuit from investors for the sale of LUNA and TerraUSD (UST) - source below. This is the main issue that could interfere in growth perspective of the ecosystem ! Source : cointelegraph.com Wo1aNd, PhD
BINANCE:BNBUSDShort
by UnknownUnicorn6367453
300 IS THE FIGURE !SHORT BNB @ 300$ STOP @ 312$ (3.96%) TP1 @ 270$ TP2 @ 245$ (18.22%) Risk/Reward Ratio : 4.6 300$ is a figure ! Outside from the Bear Flag, price has kissed the deviation once before dive to test the 300$ again! My SHORT is triggered. Still keep an eye on the wick above my STOP (312$). But it push price to go below the figure (300$) As we did not touch the EMA 200 (323$) we are still in the game. Above, I will reconsiderate to find something to SHORT @ 340$-370$ levels.
BINANCE:BNBUSDShort
by UnknownUnicorn6367453
300 IS THE FIGURE !SHORT BNB @ 300$ STOP @ 312$ (3.96%) TP1 @ 270$ TP2 @ 245$ (18.22%) Risk/Reward Ratio : 4.6 300$ is a figure ! Outside from the Bear Flag, price has kissed the deviation once before dive to test the 300$ again! My SHORT is triggered. Still keep an eye on the wick above my STOP (312$). But it push price to go below the figure (300$) As we did not touch the EMA 200 (323$) we are still in the game. Above, I will reconsiderate to find something to SHORT @ 340$-370$ levels.
BINANCE:BNBUSDShort
by UnknownUnicorn6367453
Binance Coin: potential for reversal, but only short oneBNB was under high pressure during the whole week. At the start of the week price was pushed shortly to the level of $313, but selling orders were prevailing with this coin during the whole week. Soon, price reverted to the downside and reached its lowest weekly level at $266 on Saturday trading. Support line at $250 has not been clearly tested, which opens a path toward this level in the coming days. BNB is ending the week around $270 level. RSI does not show the potential that the market might soon head toward the overbought zone. The indicator was moving between levels of 40 down to 33. Oversold market has not been clearly reached, which increases probability for it in the coming days. MA50 continues to diverge from MA200, indicating that potential cross is still not in prospectus for this coin. As the support line at $250 has not been clearly tested during the previous week increases the probability that BNB might shortly test this level in the coming days. Current charts show decreased probability for this level to be broken, except in case of negative market fundamentals. Short reversal of the coin might push the price back to the resistance line at $300. Disclaimer: This article provides exclusive views of the author. It does not in any sense represent a suggestion for trading.
BINANCE:BNBUSD
by XBTFX