This Is Why Even After More Than 420% Surge The Binance Coin (BNB) Won’t Stop Bullish Move | Liquidity Farming BNB

By moon333 | moon333 | 13 Oct 2020


Hey, friends hope you are well and welcome the new update on Binance coin. In this video you will watch:

 

The Tweet by JustLiquidity: 

 

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https://twitter.com/JustLiquidity/status/1315583390431744000?s=20

 

As in my previous article, I showed that the priceline of the BNB coin has formed different harmonic patterns in US Dollar market and the Bitcoin market as well. Now Finally the price action has moved up and surged more than 98% as below:

 

Previous article’s Gartley move with US Dollar pair before execution:

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Previous article’s Gartley move with US Dollar pair after execution:

 

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Previous article’s BAT move with Bitcoin pair before execution:

 

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Previous article’s BAT move with Bitcoin pair after execution:

 

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Now on a small-time period 4-hour chart, since 27 Sep the priceline was moving in a bullish pennant. Finally, it has broken out the resistance and likely to move down to retest the previous resistance of the pennant as support.

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The priceline of the Binance coin is moving above simple moving averages with the time period of 25, 50, 100 and 200 and using these SMAs as support very well before the next rally.

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On the long term weekly chart the priceline is moving in an up channel as below:

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On the weekly chart, it can be observed after March 2020 the price line of BNB has surged more than 420% and broke out the Ichimoku bearish cloud. At this time the lagging span of the Ichimoku cloud is moving above the price action and the cloud as well. The conversion line has crossed up the baseline and this bull cross is still in play below the candlesticks of the Binance coin price chart. The Ichimoku cloud is also turned bullish.

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Conclusion:

All indicators and patterns from daily to long term charts are giving bullish signals. However, we should use the support of the up-channel on the weekly chart as stop loss to minimize the risk factor.

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moon333
moon333

Hi, My name is Atif Akbar and I am a trader and trading charts author


moon333
moon333

Hi my name is Atif Akbar and i am trading charts author of different assets like crypto, forex, commodities, CFDs Stocks e.t.c.

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