Binance Coin / USD Technical Analysis: Party Is Winding Down

Binance Coin / USD Technical Analysis: Party Is Winding Down
ôîòî ïîêàçàíî ñ : cryptobriefing.com

2019-2-11 17:15

Binance Coin is bullish in the short-term with the pair testing towards important technical highs Caution is warranted as bearish divergence is building on the four-hour time frame Medium-term picture is bullish, although some technical indicators appear overstretched Binance Coin / USD Short-term price analysis

 

In the short-term, Binance Coin is bullish with the popular coin enjoying strong buying demand since the start of this month. The BNB / USD pair is trading well above all key moving averages, with the 50-period moving average crossing over the 200-period moving average.

Warning signs are starting to emerge that a technical pullback may occur, as the BNB / USD pair is showing bearish MACD divergence on the four-hour time frame.

Aside from the bearish price divergence, the Relative Strength Index and Stochastic indicator have both reached extreme oversold conditions on the mentioned time frame.

 

Pattern Watch

The four-hour time frame highlights the recently triggered bullish inverted head and shoulders pattern, which has already reached its upside projection.

 

 

BNB / USD H4 Chart                                       (Source: TradingView)

 

 

MACD

The MACD indicator is creating bearish divergence, which is signaling a possible near-term correction lower.

Binance Coin / USD Medium-term price analysis

 

Binance Coin is bullish in the medium-term, with the cryptocurrency staging a bullish rally above its 200-day moving average. Given that the BNB / USD pair has traded below its 200-day since August of last year, the recent breakout is a major technical development.

The BNB / USD pair has two immediate targets, firstly, the November 7th 2018 swing-high and the September 2nd 2018 trading high, which is the more bullish of the two potential targets.

 

 

BNB / USD H4 Chart                                       (Source: TradingView)

 

 

Pattern Watch

Traders should watch for the formation of a bullish inverted head and shoulders pattern on the daily time frame, particularly if the September 2nd trading high is reached.

 

MACD Indicator

The MACD indicator on the daily time frame time is bullish and shows no bearish divergence at present.

 

RSI Indicator

The Relative Strength Index is bullish on the daily time frame, although caution is advised as the indicator has approached oversold conditions.

Conclusion

 

Binance Coin is bullish over the medium-term and is one of the few major cryptocurrencies trading back above its 200-day moving average.

A short-term technical correction may occur due to the creation of bearish divergence on the four-hour frame. Traders should also watch for the potential formation of a large inverted head and shoulders pattern on the daily time frame.

 

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Binance Coin
(BNB) Price $9.22 Market Cap $1,331,803,033.12 #ccpw-ticker-24513 .ccc-chart-header { background: #1c71ff} #ccpw-ticker-24513 #ccc-chart-block .exportBtnTop, #ccpw-ticker-24513 a.tabperiods.tabperiods_active, #ccpw-ticker-24513 .coin_details { color: #1c71ff; background: rgba(28,113,255,0.15); } #ccpw-ticker-24513 .coin_details { border: 1px solid rgba(28,113,255,0.16); } .ccpw-container_chart #ccpw-ticker-24513 .coin-container:after, .ccpw-container_four #ccpw-ticker-24513 .coin-container:after {border-color:#ccc !Important;} Join the conversation on Telegram and Twitter!

 

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binance down party winding analysis usd coin

binance down → Ðåçóëüòàòîâ: 57


Why the BitTorrent (BTT) Token Sale Was a Major Success Despite Hiccups

The BitTorrent (BTT) token sale will probably go down as the quickest token sale in the young history of crypto -based crowdfunding. According to the CEO of Binance, the token sale took 18 minutes but could have taken 18 seconds if the system was able to handle the number of investors willing to take part […] The post Why the BitTorrent (BTT) Token Sale Was a Major Success Despite Hiccups appeared first on Ethereum World News.

2019-1-29 13:01


Bitcoin News (Dec 15): See This Weekend’s Top Crypto Stories and Blockchain Headlines [VIDEO]

Binance Continues to Hodl Down the Bitcoin Space by Expanding Its Crypto Incubator Program Binance Continues To Hodl Down The Bitcoin Space By Expanding Its Crypto Incubator Program OpenSea Marketplace Expands its Crypto Portfolio with ETH-Based Atomic Bazaar Acquisition OpenSea Marketplace Expands Its Crypto Portfolio With ETH-Based Atomic Bazaar Acquisition OAX and Enuma Surpass 1,000 […]

2018-12-16 19:25


A Crypto fiesta is Going Down in Spain; is Another Widespread Crypto Adaptation About to Happen?

Malta may have been the most talked about European country that pioneers cryptocurrency and blockchain activities. With exchange giants like Binance, Okex situated in Malta, as well as Blockchain firms which has led the country to bag the title “ Blockchain Island”, the Spaniards have been peering in closely and taking as much notes as […] The post A Crypto fiesta is Going Down in Spain; is Another Widespread Crypto Adaptation About to Happen? appeared first on ZyCrypto.

2018-11-11 13:50


Binance CEO: Sooner Or Later, A Crypto Bull Run Will Happen

Ran NeuNer, CEO of OnChain Capital and CNBC Africa-based Crypto Trader’s showrunner, recently sat down with a number of prominent industry guests to talk all things crypto. While NeuNer spoke with notable guests like VanEck’s Gabor Gubacs and Roger Ver, most notably, the South African entrepreneur cut out some time to sit down with Binance CEO […] The post Binance CEO: Sooner Or Later, A Crypto Bull Run Will Happen appeared first on Ethereum World News.

2018-11-11 00:45


KuCoin vs Binance – Which is the best crypto exchange

Finding a cryptocurrency exchange to use when they are available by the dozen is one of the hardest things to do. There are so many options and so many variations in the options that it is almost impossible to zero down on one, but finding one that you are used to, trades all the coins The post KuCoin vs Binance – Which is the best crypto exchange appeared first on ItsBlockchain.

2018-7-27 17:54


Ôîòî:

Binance’s South Korea Expansion Plan: Exchange Doesn’t Deny but Plays Down Hype

Crypto traders in South Korea could soon have direct access to Binance’s trading platform. According to a speculative report circulating in the Korean media, the largest cryptocurrency exchange in the world (by trading volume) is preparing to tap in on South Korea’s booming digital asset market by setting up a regional office in the country.

2018-7-26 17:28


Binance Exchange Bringing Home Bad Press Amidst Trading Platform Errors

Binance Brings Home Bad Press Shock waves are coursing through the cryptosphere after a massive heist of BTC from the world’s leading crypto exchange by trading volume. Although somewhat muted in response, Binance has shut down for “systems maintenance” and the prospect of panic withdrawals looms once the exchange reopens. As the dark news spreads, […]

2018-7-5 22:43