Binance Coin | Growing Since December 2023

15 Agu

Binance Coin (BNBBTC) bottomed December 2023. This bottom is marked by an inverted triangle pattern to end a major downtrend that came as a perfect descending channel.

The inverted triangle marks the bottom. Prices start to rise thereafter with a strong stop reaching January 2024. Resistance is challenged for three months, until March 2024. Finally, resistance breaks and BNBBTC continues with its upward move.

The candles mid-March are quite revealing. Two very strong bullish candles to break a major resistance level. At this same time, Bitcoin is producing a new all-time high and preparing to move down.

➢ From March through present day, BNBBTC has been growing.
➢ From March through present day, BTCUSD has been dropping.

➖ Last week, BNBBTC closed a Doji to signal the end of a minor retrace and also strong higher low.
➖ This week, BNBBTC has gone full green and is trading above EMA8/13 and EMA21. The bullish bias is now confirmed and as soon as the weekly session closes above this levels a bullish continuation is confirmed.

With the bullish bias confirmed, we can expect higher prices.
This is good. This pair looks good for growth.

See the relation between BTCUSD and BNBBTC; what do you think will happen to BTCUSD as BNBBTC moves up?

Never mind the answer:
👉 Sell the ones set to go down; buy the ones se to go up.

Targets can be found on the chart.

Namaste.