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BNBUSDT trade ideas

BNB: Resistance BreakoutTrade setup : Following a bullish break above $300 key level, price reached as high as $338 but got very overbought (RSI > 80). Now it’s pulled back to $300 support, which could be an attractive swing trade entry in Uptrend, with upside potential to $350. Stop Loss (SL) level at $285 (10% downside risk versus 20% upside potential for a 1:2 Risk-Reward Ratio). Trend : Uptrend across all time horizons (Short- Medium- and Long-Term). Momentum is Bullish but inflecting. MACD Line is above MACD Signal Line and RSI is above 55 but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum is weakening. Support and Resistance : Nearest Support Zone is $300 (previous resistance), then $260. The nearest Resistance Zone is $350.
Long
by altFINS
🚀Binance Coin (BNB) Analysis Overcoming Resistance ChallengeKey Points: Positive Outlier: Binance Coin (BNB) has displayed positive performance, closing the week with a 0.3% increase despite broader market trends. Sustained Momentum: BNB sustained momentum after surpassing the $300 mark at the end of 2023. Obstacle Ahead: The coin faces a significant obstacle in the form of strong resistance at $360, and breaking above this level may prove challenging. Technical Insights: Resistance at $360: The $360 resistance level is highlighted as a significant challenge for BNB. Absence of Substantial Pullback: The absence of a substantial pullback in the rally raises considerations about the potential difficulty in overcoming resistance. Implications for Traders and Investors: Cautious Approach: Traders and investors should approach the $360 resistance level with caution, considering the absence of a significant pullback. Monitoring Price Movements: Close monitoring of price movements and potential developments in the market is advised.
Long
by Richtv_official
1
BNB - Analysis of Binance CoinBinance Coin is currently undergoing a prolonged descent in Wave E, evident from its ongoing Wave ii correction that seems far from completion. It's fascinating to note the market's tendency to offer a second opportunity for entry after missing the initial significant surge. The challenge with perceiving it as a Wave 2 lies in the potential lack of comprehension regarding the underlying pattern, possibly identified by Elliott Wave practitioners as a double or triple zig-zag, a concept prone to subjectivity and limited helpfulness. However, AriasWave diverges from the Elliott Wave methodology, adopting a distinct approach reminiscent of a programming language. It involves asking specific questions, and depending on the answers, guides one towards understanding their position within the corrective pattern. Here, a forward-looking and guided effort is emphasized, providing solace and comfort in making investment decisions at favorable prices, free from the fear of missing out (FOMO).
Short
by AriasWave
After exiting of triangle, BNB can make retest and continue growHello traders, I want share with you my opinion about Binance Coin. Observing the chart, we can see that the price a few moments ago declined to the support level, which coincided with the buyer zone and even fell to this zone. But later, BNB reached the support line of the triangle, and at once rebounded and made a strong upward impulse to the resistance line, thereby breaking the 306 level, which is located inside the support area. Then price rebounded from the resistance line and started to fall to the support area, and when BNB declined to this zone, it at once rebounded and tried to rise back to the resistance line of the triangle, but failed and fell back to the support area. Later Binance Coin bounced from the support area again, finally reached the resistance line, and even soon broke it, thereby exiting from the triangle. Now, I think that BNB can make a retest to this resistance line and then continue to move up. For this case, I set my target at the 342 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
1
📊#BNB ’s potential smiley face structure deserves attention👀🧠As the world's largest cryptocurrency exchange, although FUD occurred some time ago, the problem has been successfully resolved, and BNB's recent rebound has also been very strong. From the structural point of view, it is not difficult to find that there is a potential smiley face structure to be established here. If it is successfully established, then we will hope to challenge the short defense point and the previous high💪 Let’s see 👀 ⚠️Note that technical analysis is for reference only, don’t forget risk management. If you find it useful, please don’t forget to follow, like❤️ and share my analysis post📤
Long
by wolf_king888
3
BNB/USDT Ready for a Bull Run? 👀🚀 BNB Analysis 💎 Paradisers, set your sights on BNBUSDT for a significant trading possibility. The asset is currently in a descending channel, indicating a strong potential for an upward shift from a key support level. 💎 Over the last month, BinanceCoin has skillfully adhered to its channel pattern. Having now reached the crucial support level at $206, there's a pronounced chance of a bullish reversal, which could culminate in a breakout from the channel. 💎 This outlook is bolstered by VRVP analysis, which suggests that historical visits to key support levels typically lead to strong bullish movements. If this bullish trajectory continues, BNB could be heading towards resistance levels at $271 and $310. 💎 However, it's crucial to monitor BNB closely. Falling below the current support level would require a significant reevaluation of our trading approach. Such a trend reversal could indicate difficulties in maintaining the bullish momentum, requiring strategic adjustments to align with the changing market conditions. 💎 Remain vigilant and proactive, Paradisers. Paradise Team is committed to provide you with thorough analysis and strategic insights to empower you to navigate these market fluctuations skillfully.
Long
by MyCryptoParadise_Simon
2
BNB: Resistance BreakoutTrade setup : Following a bullish break above $300 resistance zone, price reached as high as $338 but got very overbought (RSI > 80). Now it’s pulled back and is retesting that $300 key level. Upside potential to $350. Stop Loss (SL) level at $285 (10% downside risk versus 20% upside potential for a 1:2 Risk-Reward Ratio). Trend : Uptrend across all time horizons (Short- Medium- and Long-Term). Momentum is Bullish but inflecting. MACD Line is above MACD Signal Line and RSI is above 55 but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum is weakening. Support and Resistance : Nearest Support Zone is $300 (previous resistance), then $260. The nearest Resistance Zone is $350.
Long
by altFINS
BNB is About to Breakout from AccumulationI believe BNB has been in a Wyckoff Accumulation phase since May 2022. A breakout from the accumulation range-high could initiate a bull phase. My 2024 target is its former ATH at around 700 USDT, but the 1:1 fib extension at 858 USDT is also reasonable (Note: I use the regular scale, not a log chart). Accumulation Phase A: SC: In June 2022, BNB reached its Selling climax at 183.72 USDT. AR: Following the SC, BNB began the Automatic Rally phase, which reached a price of 336.5 USDT on August 8th, 2023. ST: BNB Concluded Multiple Secondary Tests that established support at around the 250 USDT level. Accumulation Phase B: UT/Bull Trap: BNB made an HH on November 7th, following the FTX collapse, which served as a bull trap. ST/SoW: following the HH, it broke below the 250-support level in Sign of Weakness. However, Price did not reach the range-low, much less below it. UT: Following the ST, BNB had two Upthrust events. The first UT action reached the range-high, and the second broke above the previous high in another bull trap/stop hunt. Accumulation Phase C: Spring: BNB’s Price did not perform a spring action in the sense of an LL. However, it experienced a significant Sign of Weakness and dropped to as low as 202 USDT. I decided to categorize this SoW as the Spring. Accumulation Stage D: Phase D represents the transition between the Cause and Effect. It stands between the Accumulation range (Phases A to C) and the range breakout (Phase E). In the following days and weeks, BNB will perform a range breakout above 336 USDT and begin the final transition from bear to bull market. A break above the 0.5 Fib retracement at 355 USDT will indicate the range breakout has begun.
Long
by NewThoughtCrypto