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BNBUSD trade ideas

Will BNB bounce to $250? BNB coin price breaks below the rising channel support trendline. The fallout rally challenges bullish dominance at the $230 support zone. A breakdown below $230 could crash the BNB price to $200. Altcoins mark a third bearish day this week, leading to a 5.78% drop in BNB in the last 8 days. Failure to rise above the 50-day EMA and $250 leads to a rising channel fallout. Binance coin price shows a 3.62% drop in the last two days, with increased trading volume. The crucial support zone of $230 may provide a reversal spot, with the possibility of a retest as sellers get exhausted. Technical indicators like MACD and RSI show increased bearish sentiments. If buyers absorb the supply pressure, $230 could be a bounce pad to reach $250. A closing below the support zone could mark an intense correction phase, prolonging the fallout rally to $200.
BINANCE:BNBUSDLong
by Coinpedia-Market-Insight
A bull market is more likely than a bear market in cryptocurrencWishing you a fruitful week I would like to share with you two ideas that I have developed using the Elliott Wave Principle. For more explanation, refer to the attached chart. Friends, if you like, you can refer to my previous analysis. I must mention that my understanding of the Elliott Wave principle is based on my personal experience, and while I am still learning, I hope to provide better analysis in the future. Your continued support is greatly appreciated and I look forward to our mutual success. Sincerely (Mr. Nobody) Go up and Never Stop.
CRYPTO:BNBUSDLong
by mehdi47abbasi79
Bollinger Band SqueezeWhat is a Bollinger Band Squeeze? • A Bollinger Band Squeeze describes a period in which volatility is extremely low. The narrowing of the Bollinger Bands signals low volatility. • There is a formula to calculate the level of the squeeze. However, for simplicity, I use the Bollinger BandWidth with High/Low References by Sinier, with a 180-day lookback period. • You can look at the bottom indicator and see that the orange line, signifying the BB width is as low as it gets. • According to Bollinger, periods of low volatility are often followed by periods of high volatility. It stands to reason that once the period of low volatility is over, a big move, up or down, will happen. • For example, In may BNB was squeezed in a 3.41% range, and the following move was a 25% move. How to determine the direction of the squeeze? • The squeeze by itself, is a directionless signal. • Bollinger suggests using momentum indicators, volume-based indicators, divergences, and classical TA techniques to determine the direction of the squeeze. • Bollinger also suggests practical advice, based on market psychology: when the majority of traders point in the same direction, it’s usually a good idea to go in the opposite direction. Trade idea: • I couldn’t get a directional hint by using indicators. However, since we are in a range with clearly defined support and resistance levels, I will take this trade as a breakout trade. • Support is 235 USDT. Resistance is 250USDT. • You can take this trade at the break of the Bollinger band, to either side. Or, you can be more conservative and wait for a support resistance flip. • The SL is the upper or lower boundary of the Bollinger band.
BINANCE:BNBUSD.P
by NewThoughtCrypto
Will BNB Prices Resurface Above $250?Recent Drop: BNB coin price has suffered a recent drop of 9.28%, trending close to the support trendline. Selling Pressure: An increase in selling pressure may indicate a potential breakdown of the rising channel pattern. Support Trendline Risk: If BNB breaks below the support trendline, it could crash the price to $222. Fraud Charge Impact: Consideration of a fraud charge against Binance by the US Department of Justice has negatively impacted BNB prices, causing a 3.63% crash. Short Recovery: Despite heavy selling pressure, BNB has managed a 1.50% recovery, forming an ascending triangle pattern. Psychological Mark: $250 is a significant supply spot, and resistance at $245 must be overcome first. Social Sentiments & Volume: Trading volume normalization and improved social sentiments might indicate stabilization. Technical Indicators: The Stochastic RSI and MACD indicators point to a positive trend, suggesting potential bullish momentum. Potential Outcomes: Optimistic: If the recovery continues, BNB could reach $257, targeting the next at $270. Pessimistic: If the support trendline is broken, the price may fall to $222.
BINANCE:BNBUSDLong
by Coinpedia-Market-Insight
Binance Ready For Breakout? Next stop, $270! BNB price action projecting a bullish cycle within a rising channel, target $270. After a 25% fall in June, BNB dropped to $230 but recovered due to strong buying activity. Rising channel with multiple bull cycles, highest accounting for an 11% jump but failed to surpass 50-day EMA. Morning Star pattern forming on support trendline, 4-hour chart shows rounding bottom pattern with neckline at $245. If BNB breaks above $245, target $257; 50-day EMA may resist recovery rally. Resistance trendline from the previous downtrend may hinder further bullish growth. Recovery rally lacks significant spikes in trading volume, raising sustainability concerns. RSI indicator sideways near halfway line, recent uptick suggests potential uptrend. MACD indicator's signal and MACD lines preparing for bullish crossover. Bullish scenario: BNB reaches $257 before challenging the resistance trendline at $270. Downside: Reversal from $245 could lead to fall back to $237.
BINANCE:BNBUSDLong
by Coinpedia-Market-Insight
BNB short currently sideways BNB, BNB could hit $448.23 in 2023 BNB’s price prediction for the most bearish scenario will value BNB at $194.61 in 2023 BNB’s previous All Time High was on 10th May 2021 where BNB was priced at $686.31 BNB’s price at the same time last week was $231.07. It has moved by 0.77% in the past week and is currently at $243.26. Infact, in the past 24 hours, BNB has pumped by 0.32%. There is a slight bearish sentiment in the crypto market. The long term sentiment, however, remains bullish and BNB could hit $475.81 in 2024. The total circulating supply of BNB as of writing this article was $155,855,196 and the marketcap of BNB remains at $37,914,395,267. However, Binance’s legal battle isn’t over just yet. The US SEC is seeking restraining orders to freeze Binance’s assets. Although the exchange has asked the court to deny the restraining order, the ongoing showdown could further affect BNB’s value. The weekly timeframe chart showed that BNB’s plunge has hit June/December 2022 lows. During the December 2022 FUD (fear, uncertainty, and disinformation) around Binance’s proof of reserves, BNB tanked to $220. The $220 level aligns with a bullish order block (OB) of $206 – $243 (cyan) on the weekly chart formed on 27 June 2022. In addition, it coincides with the range low of a parallel channel (blue) and the 200-MA (Moving Average). So, it could make the $206 – $243 zone (cyan) a strong bullish stronghold. Unfortunately, it could crack if Binance’s legal woes worsen in the next coming days/weeks. A drop below the confluence area could ease at $184 or $118. Conversely, BNB could attempt to reverse the losses and target the mid-range ($293) if the demand zone doesn’t crack. The level also aligns with the 50-MA. In the meantime, the RSI (Relative Strength Index) flattened in the lower range – suggesting selling pressure eased. Similarly, the CMF (Chaikin Money Flow) moved sideways slightly above the zero mark – denoting capital outflows from BNB subsidized. A break above 359 and creating bullish pa HH and HL is the start of a bullish trend
CAPITALCOM:BNBUSDShort
by DaveBrascoFX
Binance Coin: Ready 🙌With the low of wave (2) in magenta, Binance should have finished a longer descending phase. Thus, we expect the altcoin to advance significant upwards movement, heading for the resistance at $398.20. This mark should be conquered in due time, so that the top of wave (3) in magenta can be reached. However, a 30% chance remains that Binance could slip below the support at $220.50 and develop a new low in the form of wave alt.(2) in magenta before it can continue the ascent.
BINANCE:BNBUSD
by MarketIntel
BNB - Head and Shoulders on the 4H TF* BNB is still stuck in a range between 220 – 250 USDT. * Currently, it looks as if BNB is forming a Head and Shoulders pattern on the 4H TF. The neckline is at the 242 USDT Level. * The target for the Head and shoulders is 225 USDT. However, there is a daily demand zone between 231 – 236. I think it is possible for this demand zone to hold BNB’s price from further deterioration. * If you are inclined to short BNB, wait for a retest of the neckline as resistance. NFA. What do you think? Please share in the comments. Best Wishes.
BINANCE:BNBUSD.PShort
by NewThoughtCrypto
Discussing the Ripple Effect: Binance's Workforce ReductionToday, I want to address the recent news that has been making waves in the crypto industry. As many of you may have heard, Binance, one of the leading cryptocurrency exchanges, recently announced a significant reduction in its workforce, affecting 1000 employees. 🔍 Examining the Factors: Let's dive deep into the reasons behind Binance's decision and explore the potential factors contributing to this workforce reduction. From market fluctuations to regulatory challenges, there are multiple elements at play that could have influenced this strategic move. 💼 The Impact on the Industry: Binance has played a pivotal role in shaping the crypto landscape, with its innovative offerings and global presence. Join me in discussing the potential implications of this workforce reduction on the industry as a whole, including the exchange ecosystem, market sentiment, and investor confidence. 📈 Adapting to Change: In times of uncertainty, adaptation becomes crucial. Let's explore how Binance's actions might be a response to the evolving crypto landscape and changing regulatory environment. How can other industry players learn from this experience and navigate potential challenges? 🌱 Employee Welfare and Support: While focusing on the big picture, it's essential not to overlook the impact of this decision on the affected employees. Let's examine the potential measures taken to support and assist these individuals during this transition period. 🚀 Industry Resilience: The crypto industry has proven time and again its resilience and ability to bounce back from challenges. Let's discuss how this situation presents an opportunity for the industry to learn, adapt, and strengthen its foundations, paving the way for sustainable growth. 💬 Join the Conversation: I want to hear your insights, opinions, and experiences related to this recent development. What are your thoughts on Binance's workforce reduction and its implications for the crypto industry? Share your perspectives and engage in a lively discussion in the comments section below! ⚡️ Remember, this post aims to foster meaningful dialogue, encourage critical thinking, and explore the ripple effect of this significant development within the crypto industry. Let's seize this opportunity to deepen our understanding and contribute to the collective knowledge of our vibrant community! 🌟 Stay tuned for more thought-provoking discussions, crypto insights, and industry updates. Together, we can navigate the ever-evolving landscape of cryptocurrency and shape the future of the industry!
BINANCE:BNBUSD
by Opportunity2120