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BNBUSD.P trade ideas

Binance Coin: short moves It was a heavy week for BNB, but the coin managed swiftly to consolidate. During the first half of the week, the price of BNB was influenced by the news on potential purchase of the crypto exchanger FTX by Binance, when the price of BNB reached level of $400 on one occasion. After Binance announced that it is not entering into any sort of business deal with FTX, the general market selloff began. The price of BNB went down to the level of $260 on Wednesday trading season, which was a minimum level reached during the week. Soon after, the price reverted back, but only to the level of $300 resistance line. BNB is ending the week testing $300 resistance. During the period of selloff, RSI went down to the level of 37, however, the clear oversold side of the market has not been reached. At the same time a very interesting thing happened with moving averages of 50 and 200 days. Namely, the two lines created a golden cross at the beginning of the week, they continued to move as one line for the rest of the week. In this sense, it is very hard to confirm if the golden cross formation occurred at all. Certainly, in the next week or two, the formation should be clarified. It will take some time until markets calm after the latest selloff. In this sense, it could be expected from BNB to test the $250 support line for one more time. On the opposite side, there is a high probability that BNB will continue to test the $300 resistance line.
BINANCE:BNBUSD
by XBTFX
Can BNB traders maintain support?Hi traders, and welcome to Monday's insight. We're watching BNB today as price continues to hold a higher low above a well-defended support area. We all have seen the total drama that has been the crypto market last week. Insane price moves after FTX ended up declaring chapter 11. We want to wish our best to anyone caught up, and we hope you will see a happy ending. After a weekend of selling, we are seeing a new push higher by buyers today. The good, we are seeing a new higher low that sits at the top of the support range. Higher lows are bullish signs, and seeing it with support can give it more credence. The sell-off was dramatic, and we saw as much as 31% wiped off BNB price in two trading sessions last week. The good news was that the selling stopped at 260, which is the base area of the support range. Looking forward, we want to see today's buying continue with a higher close. This will continue to hold the support area and reinforce it. If we see this, we then want to see a new rally pulling back more of last week's losses. If we do see a new move lower, we need to see 260 hold. If we do see a new close below 260 or lower, this could be signalling that we are seeing a new leg lower. Let's see if buyers can hold today's higher move. Good trading.
EIGHTCAP:BNBUSDLong
by Eightcap
BNB: Bear market is obvious, but bull is hiddenI am not going to say much here, a little busy, this is requested chart. Sorry mate, this is best i can do. ----Previous--- **LEGENDS** BLUE = Bear/Resistance || Yellow = Bull/ Support Lines: Fractal dates are moments of interest, where price and time collide to create oscillation. the chart for possible scenarios of price actions - use zoom and scroll for better view.~ /*This information is not a recommendation to buy or sell. It is to be used for educational purposes only.*/ Feel free to request: your coin to be analyzed! Please keep those Stop losses in place or mind! Thank you, and stay strong my fellow CryptoPunks! Future belongs to the brave, and crypto is the future. _Ajion
BINANCE:BNBUSD
by Ajion
Binance coin held the bestBesides Eth and Ltc, Bnb is another coin that I like a lot in current market conditions, and looking at the posted chart you'll understand why. Since the ATH in Nov last year, the coin also entered a downtrend, but in mid-June 2022 we have a clear bottom here. A break above the falling trend line followed at the end of July and since then we have had consolidation and range trading. 250 is clear support here and most probably a lower high. 400 with 450 in extension could be bulls targets and only a drop under 250 would put this bullish scenario into question.
BINANCE:BNBUSDLong
by Mihai_Iacob
3
BNB - did not break support This one is not surprising but I imagine it is one of few coins that did not break support. Here we have a strong resistance zone that will be tough to break out of and hold. Especially when one fakeout has already occurred. I Imagine we fail at resistance here and we will see if that support holds. One of the few coins that is not in a downtrend. Not exactly sure what to make of that, but with more time we may see. Don't really feel like longing support but will see when that happens. Sort of predicting new lows for most coins since BTC made new lows. This would be very rare for altcoin outperformance. Each time we have seen the actual crash, we have seen BTC make new lows with everything else. There are notable coins that have not made new lows yet such as ETH, MATIC, BNB and some DEFI bluechips like AAVE and SNX. Calling for at least a revisit of the lows down to 180. If not, we officially have something new happening this cycle!
BINANCE:BNBUSD
by derzzycharts
BNBUSD 1D Golden Cross may be a trop before new HighsThe Binance Coin (BNBUSD) is rising massively on today's news and amidst the fundamentals, it formed a Golden Cross on the 1D chart, which is the bullish formation when the 1D MA50 (blue trend-line) crosses above the 1D MA200 (orange trend-line). With the 1D RSI volatile on the 80.00 hugely overbought level, this pattern draws inevitably comparisons with the last Golden Cross that was formed on the 1D time-frame on August 31 2021, i.e. more than 1 year ago! As you see on the chart, that Golden Cross, instead of more price rise, it delivered a strong pull-back that broke below the 1D MA200 but stopped at the bottom of the Channel Up to form a Higher Low. Right now BNB has been trading inside a Channel Up since the June 18 bottom. If we plot the 2021 price action on today's, we can see how closely it can match the pattern. As long as it holds, we can expect a Higher Low for a better long-term buy opportunity. If this fundamentally driven rally continues though and breaks above the 2022 Resistance Zone, we can (with a relative safety) buy the break-out for the long-term into the new Bull Cycle. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 👇 👇 👇 👇 👇 👇 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
BINANCE:BNBUSD
by TradingShot
4
Binance Coin: reversal on schedulePositive developments for BNB continue for a second week in a row. During the previous week, the price of the coin was pushed further to the upside, where BNB managed to reach the resistance line at $350, after breaking the short term stop line at $330. Technical charts are showing potential for more positive developments to come in the future period. Two weeks ago RSI reached a clear overbought side, while the coin continued to move in this range during the whole previous week. Highest level reached for RSI was 81 which is indication of heavily overbought market. On the other hand, this is also an indication that the price will enter into a short reversal in the coming period. Moving averages of 50 days are converging toward the MA200 counterpart, while the distance between two lines becomes very short, indicating potential golden cross formation in the short future period. Since BNB reached more than clear overbought market side, it could be expected that the price will revert a bit to the downside in the week ahead. In this sense, the first stop for the coin might be a short term support line at $330. At this point, charts are showing lower probability that this level might be breached to the lower levels. On the other side, the resistance line at $350 might be tested again.
BINANCE:BNBUSD
by XBTFX
1
BNBUSD: Under a KEY RESISTANCE! What's next?• BNB is very bullish, but it has to face its most challenging resistance now, around $337; • The $337 is a triple-resistance area, as seen in the daily chart, and only if BNB breaks it, we’ll see a bullish run to the next resistance at $413; • However, if BNB fails in breaking this resistance, and triggers the Double Top chart pattern seen I the 1h chart by losing the purple trend line, a pullback is plausible; • The next support level is at $299 (red line), near the 21 ema in the daily chart – making it a dual-support level; • So far, the situation is under control, and the volume is quite high. Let’s pay attention to these key points. Remember to follow me to keep in touch with my analyses!
BINANCE:BNBUSD
by Nathan_The_Finance_Hydra