BINANCE COIN (BNB-BTC)HEAD and SHOULDER REVERSAL OR BULLS TIME?
It hasn't been a bad 2018 for Binance Coin as many other AltCoin, but still not on the right side of the moon..The token that works in ERC20 standard and support the market exchange Binance is been consider one of the best project and coin to own this year, but technically this big head and should reversal could compromise his success.
On the technical analysis side we could definitely see a strong support line on the 0.0145 btc level that hasn't been broken since beginning of April, but the big reversal shadow of the head and shoulder definitely doesn't help, buyers are shy and nothing is moving with big volume lately, oscillators as RSI(21) aren't creating any signals at the moment neither.
here's some more infos about this token and some possible scenarios, currently the sideways movement and low volume haven't created any conditions yet, but a possible uptrend scenario and increase in volume might trigger some new higher prices and broke the resistances at 1570 sat and 1635 sat, that would create a possible entry for the long investors.
(FROM BINANCE.COM :
Binance issued its own token called the Binance Coin, with BNB as the symbol. BNB runs natively on the Ethereum blockchain and follows the ERC20 token standard.The token was established with a total supply of 200 million. As per our whitepaper, Binance plans to use 20% of our profits each Quarter to buyback and burn BNB, until 50% of the total BNB supply (100 million) is burned.
Every quarter, we will use 20% of our profits to buy back BNB and destroy them, until we buy 50% of all the BNB (100MM) back. All buy-back transactions will be announced on the blockchain. We eventually will destroy 100MM BNB, leaving 100MM BNB remaining)
From some extra infos over the binance coin visit info.binance.com/en/currencies/binance-coin
Illustration of the buying and selling power, Infos chart:
Hope this will inspire some new ideas, don't forget to hit the like/follow button if you feel like this post was helpful, that's the best way to support us and our work.
Happy trading days
C-Monkeys
On the technical analysis side we could definitely see a strong support line on the 0.0145 btc level that hasn't been broken since beginning of April, but the big reversal shadow of the head and shoulder definitely doesn't help, buyers are shy and nothing is moving with big volume lately, oscillators as RSI(21) aren't creating any signals at the moment neither.
here's some more infos about this token and some possible scenarios, currently the sideways movement and low volume haven't created any conditions yet, but a possible uptrend scenario and increase in volume might trigger some new higher prices and broke the resistances at 1570 sat and 1635 sat, that would create a possible entry for the long investors.
(FROM BINANCE.COM :
Binance issued its own token called the Binance Coin, with BNB as the symbol. BNB runs natively on the Ethereum blockchain and follows the ERC20 token standard.The token was established with a total supply of 200 million. As per our whitepaper, Binance plans to use 20% of our profits each Quarter to buyback and burn BNB, until 50% of the total BNB supply (100 million) is burned.
Every quarter, we will use 20% of our profits to buy back BNB and destroy them, until we buy 50% of all the BNB (100MM) back. All buy-back transactions will be announced on the blockchain. We eventually will destroy 100MM BNB, leaving 100MM BNB remaining)
From some extra infos over the binance coin visit info.binance.com/en/currencies/binance-coin
Illustration of the buying and selling power, Infos chart:
Hope this will inspire some new ideas, don't forget to hit the like/follow button if you feel like this post was helpful, that's the best way to support us and our work.
Happy trading days
C-Monkeys
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