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BNBUSD trade ideas

Binance Coin: slow moves to continueBNB continues to be under the impact of all the news surrounding Binance exchanger. During the previous week several senators in the US Congress requested detailed information on Binance`s business operations amid concerns over the company's practices within a field of compliance with a law on anti-money laundering that sanctions. At the same time, Paxos announced that it will halt minting new BUSD as it has been requested by the New York Department of Financial Services amid concerns over offering unregistered securities. In addition to the mentioned, there was a general negative market sentiment related to the developments with the Silvergate bank. All this drove the BNB`s price to the downside, to the level of $288, where the coin is finishing the week. During the whole previous week, the price of BNB was pressured to the downside, with prevailing selling orders as of the end of the week. Still, at the beginning of the week the price was struggling to hold around the $300 resistance line, but without success. During the week the RSI indicator was pushed further to the downside, below level of 50, reaching level of 38 as of the end of the week. This is a clear indication that the market is eyeing the oversold side, leaving some space for the price to move further to the downside. Moving average of 50 days clearly slowed down its divergence from MA200 counterpart, putting into question recent Golden cross. Considering significantly decreased daily trading volumes on the crypto market, there is indication that the price of BNB will continue with slow moves during the week ahead. There is a probability for the price to move further to the downside, only if the current short-term stop at $280 does not hold selling pressures. At the same time, the $250 support line is still far away, in which sense, there is currently a low probability that this level might be tested in the week ahead. In case that $280 holds, then there is probability for a quite a short reversal, at least to the level of the resistance line at $300.
BINANCE:BNBUSD
by XBTFX
BINANCE - Higher Timeframe OverviewFrom looking at BINANCE, we can see that we are still in wave 4 which is an ABC correction. We are now in wave B which is broken down into 3 subwaves. We've seen subwaves A and B and now in subwave C. See lower timeframe analysis for the breakdown. Trade Idea: - Watch for completion of subwave C (of Wave B) - Once complete, watch for C wave to make an impulse down (it can be an ending diagonal) - Watch the structure at the lows if we bounce from it. - Targets: 680, 870, 1000 ,HODL the rest and manually close. Goodluck and as always, trade safe!
BINANCE:BNBUSD
by WicktatorFX
3
BNBUSD Bull flag targeting $390The Binance Coin (BNBUSD) is below its 1D MA50 (blue trend-line) trading inside what seems like the early stages of a Channel Down ever since the rejection on the 336 Symmetrical Resistance (which has formed 3 tops since May 23 2022). The last such rejection though formed a similar Channel Down (red) that ended up being nothing more than a Bull Flag that later made a Higher High. The Higher High bias emerged as the pattern since June is a Channel Up. This time BNB has the 1D MA200 (orange trend-line) as a Support and not as a Resistance and is coming off a 1D Golden Cross. We are bullish and our first target is Resistance 1 (398.0) and if we get a 1D candle closing above, then extension to Resistance 2 (460.0). P.S. We have been medium-term bullish on BNB since December: ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
BINANCE:BNBUSDLong
by TradingShot
5
Binance Coin: without strengthPrevious week was generally marked with decreased market optimisms, related to the inflation figures and potential further FED`s increases of interest rates. However, since the beginning of the year, BNB did not manage to make some significant moves, where the coin has been impacted by the all news surrounding Binance exchanger. During the previous week there has been additional news related to Binance in which SEC puts some notes to Binance`a proposed acquiring deal with Voyager, a recently failed crypto lender. Namely, the regulator believes that Voyager`s native token VGX is a security and as such it should have been properly registered. In this sense, the sale of unregistered securities is prohibited by the law in the US. The level of $320 was a starting point and a highest point for BNB during the previous week. Regardless of general market sentiment, the coin made only incremental moves toward the $300 support line, where BNB is finishing the week. Selling orders prevailed on the market during the whole week, but with very low daily trading volumes, there was no strength for some higher moves. RSI crossed the 50 line, indicating that the market is currency more oriented toward the oversold side. The positive development is with moving averages, where MA50 continues to strongly diverge from its MA200 counterpart, confirming recent Golden cross. BNB will start the week ahead by testing a $300 support line. In case that selling orders prevail there is some probability for this line to be breached. However, considering significantly decreased daily trading volumes, some significant moves should not be expected. Most probable level in this case would be a short term stop at $280. On the opposite side, there is currently quite a decreased probability that BNB could return to $320 level.
BINANCE:BNBUSD
by XBTFX
1
Binance Coin: $320 is a challenge?Binance exchange has been frequently in the news after the collapse of FTX, which clearly had an impact on its token`s price. BNB usually follows general market trends with significant moves in its price, however, the previous week showed that a lot of negative publicity is holding investors resilient to make higher investments in this coin. BNB started the previous week around level of $290, but regardless of the general optimism on the crypto market, the coin was testing $300 resistance, without strength to move further from this level. Highest weekly level reached was $326 but only on one occasion, still, the coin is ending the week by testing the $300 line. RSI is struggling to hold above the level of 50, indicating that the market is potentially eyeing the oversold side. Moving averages of 50 and 200 days made a so-called Golden cross, but the potential change in the trend might be a bit postponed for this coin. Currently there is some negative news around Binance exchanger which are impacting the market sentiment for BNB. In this sense, it might be expected that the price will be further affected in terms of its slower moves. Short term resistance line at $320 might be tested, but there is no indication that the price might rise from this level. On the opposite side, short term support at $280 might be tested for one more time.
BINANCE:BNBUSD
by XBTFX
1
Binance Coin: to be or not to be – the Cross ?Binance exchanger had an interesting announcement to its clients during the previous week. Namely, the company informed clients that it will halt all USDT and USD banking transfers starting from February 8th for all non-US clients. There was no reason mentioned for such a decision, however, there had been a spike of funds outflows from Binance. Luckily, this news did not have a significant impact on the price of BNB, so the coin managed to hold modestly above the $300 support line. Prior to this news, the coin was testing for one more time short term stop line at $330. The RSI indicator was holding above the level of 50 during the week. It is still some indication that the market is still not ready to head toward the oversold zone. As of the end of the week, moving averages of 50 and 200 days finally made a modest cross, however, it will take a couple of more days, until the formation confirms itself. If the real Golden cross occurs, it would indicate trend reversal in the coming period, something that the market was waiting for the whole previous year. Charts are pointing that the week ahead might be a slow one for BNB. On one side, there are significantly decreased daily trading volumes, while on the other side is SEC with its clear instruction that crypto companies should strictly adhere to regulation when it comes to staking products. In case of any sign that SEC is eyeing Binance after they finished with Kraken, it might drag the price of the coin to the downside. Level of $280 might easily be the potential target. On the opposite side, there is some potential for another move toward the $330 short resistance.
BINANCE:BNBUSD
by XBTFX