Hellooo dear BNB traders & Binance friends! ;) Long time no speak about BNB. The reason is very simple guys: Especially during correction periods, I'll personally play on Bitfinex (if at all), therefore BNB get's completely neglected.
This doesn't mean though BNB is insignificant: BNB is still the lead bull of the crypto summer 2019, even before grandpa Bitcoin!
Due to the big market cap, on top technical levels like S&R zones get perfectly respected:
=> We basically corrected pretty hard since the reach of the $40 tops, almost 40% until the crucial previous S&R zone of $24.
Now we have the potential for a nice tightening between $26, where we made a perfect Morning Star reversal pattern, up to the range of $30, where we will probably set a lower High. Of course if we cannot uphold the bottom of $26 and break lower, we'll have the potential to go towards $24 again, which would give up to 10% profit potential.
Any move here will highly depend on Bitcoin: Also keep in mind, that while bigger pockets are playing grandpa Bitcoin, they tend to neglect BNB. BNB was rising & shining more in times of calmness, or the other way round: When BTC was pumping hard from $9k to $14k, BNB was mostly stalling.
On that regard, if we look at BNB/BTC, we can see that we're approaching an important S&R zone here:
=> A bounce from the 24k Satoshi region would be expected and would give the BNB bulls at least short-term strength towards BTC.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my analyses! I wish you a good trading! :)
Edgy is providing online education only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
This doesn't mean though BNB is insignificant: BNB is still the lead bull of the crypto summer 2019, even before grandpa Bitcoin!
Due to the big market cap, on top technical levels like S&R zones get perfectly respected:
=> We basically corrected pretty hard since the reach of the $40 tops, almost 40% until the crucial previous S&R zone of $24.
Now we have the potential for a nice tightening between $26, where we made a perfect Morning Star reversal pattern, up to the range of $30, where we will probably set a lower High. Of course if we cannot uphold the bottom of $26 and break lower, we'll have the potential to go towards $24 again, which would give up to 10% profit potential.
Any move here will highly depend on Bitcoin: Also keep in mind, that while bigger pockets are playing grandpa Bitcoin, they tend to neglect BNB. BNB was rising & shining more in times of calmness, or the other way round: When BTC was pumping hard from $9k to $14k, BNB was mostly stalling.
On that regard, if we look at BNB/BTC, we can see that we're approaching an important S&R zone here:
=> A bounce from the 24k Satoshi region would be expected and would give the BNB bulls at least short-term strength towards BTC.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my analyses! I wish you a good trading! :)
Edgy is providing online education only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
