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BNBUSD.P trade ideas

Binance Coin: moving in oversold areaWithin a single week BNB lost some 29% in value. This came as a result of the negative market sentiment and general push of asset prices to the downside. BNB started the week testing $250 support line but soon managed to break it and finish the week around $190 next support. During the whole week RSI was moving in the oversold territory, around level of 23. Moving averages of 50 and 200 days continue to move with modest divergence from each other and with a clear down trend. Main question at this moment is if the market has reached its bottom in price correction, after which short price reversal might be expected? To answer this question, Monday will be a day to watch. In case that correction is over, it could be expected for the price of BNB to return to the previous significant level at $250. However, if correction continues, there is some probability for a support line at $150. Disclaimer: This article provides exclusive views of the author. It does not in any sense represent a suggestion for trading.
BINANCE:BNBUSD
by XBTFX
BNB - FOR AN OPTIMAL SUPPORT (61$)Fibo Channel. Ones mid channel broken, it is obvious to retrace and complete low volume "pockets", indicated by levels rays. 0.382 channel is a good asking price. If we break it, we might visit a former 2019 ATH (43$). Anyway, the sister company (Binance US) of global cryptocurrency exchange, is facing a class-action lawsuit from investors for the sale of LUNA and TerraUSD (UST) - source below. This is the main issue that could interfere in growth perspective of the ecosystem ! Source : cointelegraph.com Wo1aNd, PhD
BINANCE:BNBUSDShort
by UnknownUnicorn6367453
300 IS THE FIGURE !SHORT BNB @ 300$ STOP @ 312$ (3.96%) TP1 @ 270$ TP2 @ 245$ (18.22%) Risk/Reward Ratio : 4.6 300$ is a figure ! Outside from the Bear Flag, price has kissed the deviation once before dive to test the 300$ again! My SHORT is triggered. Still keep an eye on the wick above my STOP (312$). But it push price to go below the figure (300$) As we did not touch the EMA 200 (323$) we are still in the game. Above, I will reconsiderate to find something to SHORT @ 340$-370$ levels.
BINANCE:BNBUSDShort
by UnknownUnicorn6367453
300 IS THE FIGURE !SHORT BNB @ 300$ STOP @ 312$ (3.96%) TP1 @ 270$ TP2 @ 245$ (18.22%) Risk/Reward Ratio : 4.6 300$ is a figure ! Outside from the Bear Flag, price has kissed the deviation once before dive to test the 300$ again! My SHORT is triggered. Still keep an eye on the wick above my STOP (312$). But it push price to go below the figure (300$) As we did not touch the EMA 200 (323$) we are still in the game. Above, I will reconsiderate to find something to SHORT @ 340$-370$ levels.
BINANCE:BNBUSDShort
by UnknownUnicorn6367453
Binance Coin: potential for reversal, but only short oneBNB was under high pressure during the whole week. At the start of the week price was pushed shortly to the level of $313, but selling orders were prevailing with this coin during the whole week. Soon, price reverted to the downside and reached its lowest weekly level at $266 on Saturday trading. Support line at $250 has not been clearly tested, which opens a path toward this level in the coming days. BNB is ending the week around $270 level. RSI does not show the potential that the market might soon head toward the overbought zone. The indicator was moving between levels of 40 down to 33. Oversold market has not been clearly reached, which increases probability for it in the coming days. MA50 continues to diverge from MA200, indicating that potential cross is still not in prospectus for this coin. As the support line at $250 has not been clearly tested during the previous week increases the probability that BNB might shortly test this level in the coming days. Current charts show decreased probability for this level to be broken, except in case of negative market fundamentals. Short reversal of the coin might push the price back to the resistance line at $300. Disclaimer: This article provides exclusive views of the author. It does not in any sense represent a suggestion for trading.
BINANCE:BNBUSD
by XBTFX
Binance Coin: reversal is on holdBNB started the previous week with another push of price to the level of $330, however, another week in a row the coin did not manage to break this level on a road to the resistance line at $350. Weakness of the market for such a move has been caused by negative signals from the FED. Coin finished the week testing support line at $300. At the same time daily trading volumes have decreased with mixed both selling and buying orders. Second week in a row RSI is reaching breaking point at 50, but again indicator did not manage to break above this line, which would be indication that market has started a move toward overbought territory. For the moment, clear reversal is on hold. Moving averages of 50 and 200 days still continue to move as two parallel lines with clear downtrend. Charts are indicating that BNB`s price is currently on a cross road. On one side, there is an open path toward the $250 support line where the coin last stood in May this year. On the other hand, if $300 support manages to hold, then the coin will probably try to reach $330 one more time on its road toward the $350 resistance line. Disclaimer: This article provides exclusive views of the author. It does not in any sense represent a suggestion for trading.
BINANCE:BNBUSD
by XBTFX
BNB BINANCE USD : LOSING STEAM, CORRECTION INCOMING, HOW DEEP?BNB has been on a tear, I really enjoyed trading and holding this one. I believe BNB had reached its top at $700's and is on its way down for a nice correction. I believe its value to price ratio is a little out of whack, so its realized value will come in this next correction. I think it would be extremely optimistic to think BNB will correct to about $200 dollars before it next run. I don't see very much to support that idea because there is no real support anywhere from here to $40. At about $40 there is a really nice level of support where I believe a bounce will come in and shoot BNB back into new all time highs if it can sustain its value of course. The exchange could get hacked or anything like that can happen especially to exchange coins like this, Ive seen it way too much. Something significant may happen between now and $40 for that type of correction but I think its coming. I cashed out a little late in the $500 dollar range but luckily I made it out before the nose dive to where we are now. I have my buy orders set at between $30-$80. This is not financial or trading advice this is just my opinion. Thank you
BINANCE:BNBUSDShort
by Bitgolder