BNTUSD: Elliott Wave Theory: Using EWT to locate buy zone COINBASE:BNTUSD
Attempting to locate the next buy zone for BNT using Elliott Wave Theory. If we take the recent top as the end of wave 5, then the corrective waves (ABC) would put us in the $4 - $5 range at the end of March for a buy zone. Would appreciate any thoughts on my application of EWT to the chart! All comments welcome!
Thanks!
BNTUSD trade ideas
BNTUSDCDCLongAboveEMA20
CDCLongBelowEMA20
CDCShortBelowEMA20
CDCShortAboveEMA20
CDCLongContinuation
CDCShortContinuation
CDCLongCrossEMA20
CDCShortCrossEMA20
BANCOR or BANKher? I think Bancor looks super bullish with its chart setup, but Im also leaning on a breakout for Banor because of its continued protocol usage growth, measured by the growing daily generated protocol fees and this is especially true when compared to similar DEXes fees generated to market cap...
also, if ethereum wallet activity is any indicator, the increased investment from Large ETH wallet addresses into BNT during this recent market mini-correction (many big purchases at $5/BNT) could be important...I will be leaning bullish breakout, but still watching BNTUSD for any bearish price breakdown due to a breakdown in the price of Bitcoin or the BNT/BTC ratio... will update this after we get a clearer price direction but I linked a Crypto Fees site below if you want to monitor BNT daily fees and/or compare to the other top used protocols in DeFi.
Crypto Fees: There's tons of crypto projects.Which ones are people actually paying to use?
The site is pretty simple, just the title above and below it, a list that updates everyday with the 1 day fees and the 7 day avg fees for the top used protocols (according to fee generation) imo this is a great tool to monitor current DeFi protocol fee generation while also staying on top of any new protocols that quickly climbs up the fees list due to increased protocol usage and fee generation. hope this helps, cheers!
cryptofees.info
BANCOR Sketch with Fib LevelsFib extension levels
Within a rising broadening wedge
Will likely continue up above .618, currently sitting just below it
I expect it to smash this level
BNT at a BargainDue to BTC likely headed back to ATH in the next few days. BNT is at a bargain price and likely to see a 20% gain very soon. There are some decent dips out there for bargain hunters right now.
Take advantage and see the correlation many of these alts have to BTC and ETH....very Bullish week thus far. Yes still opportunities for bears but on a macro picture can’t go wrong on these dips!
Expect Some DownsideBNT is in a large rising wedge, so expect some downside here. I'm going to hold because it's a great project, but expect some turbulence.
BNT Elliot Wave almost completeLooks like the waves are in for BNT and one last leg up near 9$. Hoping BTC doesn't hold it back so I can get a quick exit to be ready for BTCs end of cycle near 41k or 32-35k
BNTUSDMID-TERM: Falling wedge and 4hr classic bullish divergence, depends on BTC though. (not financial advice)
Bancor is following the plan quite perfectly 👏🚀I published this one on twitter back when it was at $2.45.
It's already up $150 since then.
Looking for more upside still. 🚀
BNT climbing steep trendline on 15minJust an observation. BNT:USD price is currently tracking a trendline of the same angle to a previous steep price channel of the rally starting Feb 16.
BNT Inverted Head & ShouldersCOINBASE:BNTUSD
Assuming bitcoin goes on another one of its mid-day diving missions (fun times for us swimmers!), I see a potential impending wick down to around $4.9 in about half a day, if not sooner, after which I see the right shoulder formation depicted on my chart playing out. Again, this is assuming bitcoin goes for a dive.
So I'd place a few limit orders in that area. BNT has proven its mettle on so many occasions in the last week, giving up little ground in the midst of dramatic headwinds brought on by bitcoin's ever more frequent price swoons.
That is in stark contrast to what we're seeing from its competitors in the over-saturated altcoin sphere, which for the most part wither away in the face of any turbulence however slight (e.g., BAND, CGLD, & AAVE).
Happy trading!
BNT 1 Month Price Prediction
Seeing a possible bullish triangle form with a breakout as resistance and support line intersect. Price prediction: $12.146
BNT ROLL OFF?Respect the fib circle. A roll off is bound to occur from here in my opinion. we'll see if bancor has any juice left within the week. if not, see ya around 3.50-4 range
BNT - Held Trend but will we see a H & S Pattern?Hello Traders,
I see some opportunity in BNT right now as long as we can break this rising channel.
Though I am cautious if we finish forming a head and shoulders pattern, which will most likely break the channel downwards.
Curious what any of your opinions may be on this or if you are noticing the same thing?
On the positive side, if we do see a break to the upside, my targets will be set for $11.3, and for the extreme take profit (which really isn't all that extreme IMO) $21+.
Thanks & good luck!
beautiful, just beautifulIm not even going to draw any lines on this chart as it speaks for it self. BNT is one of the most under rated alt coins this cycle, I am up 750 percent in the past 2 months on my position in the LINK/BNT pool ... this is of course including the rewards paid out. Dont let this slip through the cracks for you ... do your own research, it has slowly been climbing up the ladder on defi pulse and is almost in the top 10. The price of UNI is currently over 20 dollars with a much much much larger market cap and half the features, one of the most important features that bancor DOES have being protection from impermanent loss, a big thing in the dex world. Get out their, do your own research, buy this thing before it moons.
