๐๏ธsince Nov 29/ 2020 , that I've analyzed the Binance coin about 30$ ,it has had more than 23X growth up to close 700$.
,but the good news is that , it'll have gain again ,but maybe not as much as last bullish cycle . however it is good enough for those who trusted my analysis.
------------------------------------------------------------------------------------------------------------------
๐๐TECHNICAL ANALYSIS
As you can see in the weekly time frame for BNB/USDT, the price is trading around 560 $ right now.
The BNB has been consolidating in a ascending triangle , And now we see that the recent weekly candlestick has shown a bearish one or more likely a temporary correction , which is better to consider this as an opportunity for buying at lower price but maybe someone like to take the position after bullback or when a candle closes on 470 $ resistance line that is more conservative ,although it has a strong support around 480 -500 $ which give a lower entry point and we've seen the price rejection after reaching this supportive zone . lower support is about 400$ , but I personally don't think it'll go down lower first support . or just maybe havea shadow or not .also EMA7 , EMA21, EMA 55 & 100 as supports are soaring on each other, which shows an bullish signal .
As you probably know, we're always predicting with probabilities as a trader , but not betting, we are always friend of the trend and , surfing on waves. This is also true for BNB.
--------------------------------------------------------------------------------------------------------------------
tips:
๐ฅ(Note that most of my analysis on the weekly timeframe basis is more for long-term investment rather than short-term trading.)
๐ฐ(Anyway, I highly recommend novice investors and traders to consider risk management and buying in a few steps) .
โณ๏ธ(also Following security measures is vital in cryptocurrency trading. Always remember that $100 worth of a token may become a fortune someday. So treat every penny with respect.)
--------------------------------------------------------------------------------------------------------------------
๐This analysis is my personal opinion ,not a financial advice ,so do your own research.
๐ if you're a fan of my analyses give a big thumbs ๐ OR drop a comment ๐ฏ๐ญ
