30.9.2020 - Binance Coin (BNB / USD)
Hi Traders!
Today, we look at a specific trade we found on the BNB / USD pair. This trade is on a 4-hour chart and is short. What does it mean? This means, that we will speculate on a decline in the price of BNB coin. Why?
1. BNB is at a strong resistance of USD 28 - 29. This area is very strong resistance on our chart.
2. We also see the first rejection and the first red candles on this resistance.
3. RSI divergence - if we look at RSI, we see that the chart is falling while the price has reached a new maximum. This happens quite often in cryptocurrencies.
4. Trendline - we have not yet broken this, but we assume that we will see it in the coming hours.
We mentioned 4 points above why the BNB price could fall. However, technical analysis is, of course, a game of statistics and probability. Thus, the BNB has a high probability of a decline, which, however, does not provide any guarantee that this will be the case. As for the zone where the price could reach in the event of a decline, we see the values of USD 24 - 25 as the first stop.
May the crypto be with you!
Today, we look at a specific trade we found on the BNB / USD pair. This trade is on a 4-hour chart and is short. What does it mean? This means, that we will speculate on a decline in the price of BNB coin. Why?
1. BNB is at a strong resistance of USD 28 - 29. This area is very strong resistance on our chart.
2. We also see the first rejection and the first red candles on this resistance.
3. RSI divergence - if we look at RSI, we see that the chart is falling while the price has reached a new maximum. This happens quite often in cryptocurrencies.
4. Trendline - we have not yet broken this, but we assume that we will see it in the coming hours.
We mentioned 4 points above why the BNB price could fall. However, technical analysis is, of course, a game of statistics and probability. Thus, the BNB has a high probability of a decline, which, however, does not provide any guarantee that this will be the case. As for the zone where the price could reach in the event of a decline, we see the values of USD 24 - 25 as the first stop.
May the crypto be with you!
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.