What normally happens in a breakout like this is the candles slide down the outside of the downtrend they just broke - They then power up again once they hit the uptrend or the cloud - I have seen them go early before many times though, but always after some sliding like you can see on the chart - Binance are amongst the best placed to open one of the new decentralised exchanges and have plans to do so - Holding Bnb isnt far off holding shares in the company - Bnb has been a market hedge for some months now, you can see on the Hedge Master chart linked beneath that it has a different shaped chart to the major coins and Btc <><> This is more a reference chart for longers but if you're looking for targets you have the major fibs, I will publish more detailed charts when things happen <><>
...and for the full house of good news indicators, Wedge Breakout - Classic textbook patterns from Bnb
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Bull pennants trying to break
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Pennants got pushed back - Bnb plays the chart by sliding along the top of downtrend to meet the uptrend, nearly at the cloud now
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Bnb getting kicked down with the rest of the market, approaching the 50% fib, the cloud and the uptrend, should get a bounce off one off those soon
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Touchdown! Went the whole way and hit the actual uptrend - Up from this price now
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Back up thru the fib
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Bnb got hijacked like the rest of the market and the price hit the sub uptrend - It was unusual to get knocked back by the fib after breaking it so decisively last week - Price is back on track now and should see $16-$20 depending on the strength of the whole market
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Last day before the new Monthly candle and prices are starting to move - Positive signs +
If the price can stay on the ascending support the the price will finally pop the 100% fib and stay above $16 in a range up to $20
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It's likely the top prices against Btc are in this area
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After being the best performing coin all month Bnb has claimed the 61.80% fib - Is this the top for Bnb? No, if this fib holds then this is the new bottom - Currently in the range of $16-$20
@Nom_de_Guerre, Thanx!!! Fingers crossed for healthy market!
Nom_de_Guerre
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@estankus, Ya check my btc 'the web 2' i think it looks pretty good until last week/end of june, btc may well crush the alts in the second half of june
estankus
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@Nom_de_Guerre, if BTC continue down, BNB will go inside cloud and also further down? I am considering HODL or sell and buy cheaper...
Nom_de_Guerre
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@estankus, Like i say it will hit the uptrend or the cloud and power up,, I trade longs and these slumps always happen on the way, i just shut the laptop on days like yesterday *)
estankus
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@Nom_de_Guerre, oh how I like your approach :)))) You will train me to be more chill. Great!
Nom_de_Guerre
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@estankus, What i always tell people is to just get good at buying the bottoms, sounds obvious but it removes ALL the other problems, you get that right and you have minimal screen time
CristoJaraba
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Nice Analysis!!
I just realize something very similar and felt the safe of BNB
Thanks for sharing!