BNB/USDT Analysis, 04/20/2019
BNB/USDT update, 04/20/2019
Because of the current configuration, I believe that we might correct a bit. We aimed for the ATH and managed to get through with a a higher high, however we quickly got rejected.
Currently, we are stagnating between -0.786 and the cluster -0.618 -0.65, above an area that may have become a support.
As for the candle, it varies between green & red in shooting star, it goes without saying that a close red would be an indication of an imminent correction.
Especially since the indicators are all in an overbought zone, and although the RSI no longer forms a bearish divergence, it remains very bearish.
To conclude I would say that if you own BNB and the daily were to close red, it would be wise to sell them in order to buy them back lower, on the $20 or even $17.5.
Because of the current configuration, I believe that we might correct a bit. We aimed for the ATH and managed to get through with a a higher high, however we quickly got rejected.
Currently, we are stagnating between -0.786 and the cluster -0.618 -0.65, above an area that may have become a support.
As for the candle, it varies between green & red in shooting star, it goes without saying that a close red would be an indication of an imminent correction.
Especially since the indicators are all in an overbought zone, and although the RSI no longer forms a bearish divergence, it remains very bearish.
To conclude I would say that if you own BNB and the daily were to close red, it would be wise to sell them in order to buy them back lower, on the $20 or even $17.5.
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