BNB / USDT technical analysis [BINANCE]
BNB / USDT technical analysis [BINANCE]

By MrBullishSail | TA crypto market | 18 Sep 2019


BNB seen from the seasonality of 1D we can see how the price has formed a descending wedge where the RSI indicator begins to show bullish divergence, the price has started to rise once it reached the zone of weekly demand located at 20.4593, the current candlestick has found supply in the first target of gain located in the resistance of 22.6898, the price could fall back to the weekly demand forming a double floor before continuing to rise in search of the following targets, which are indicated in the chart above.

BNB seen from the temporality of 1W we can observe how the price is a small step away from the major diagonal trend indicated in the green chart, this is a very positive signal for bulls, as this approach is accompanied by an important zone of weekly demand where the price should find enough strength to make a bullish impulse.

In conclusion, the price is in very good condition to move up on the chart, we need to see a close above 22.6898 or else the price should return to the weekly demand forming a double floor with which we move more strongly in the bullish direction, the chart of market capitalization of the alts is quite positive, with much more way up ahead, this should greatly favor the positive movement of BNB as with the other analyses made to other currencies, as I always recommend to be very attentive to the action of the price of BNB to try to grab the best position, attentive to the next movement of BTC, which if followed as so far could have a bearish break very soon.

As I always say, you have to be aware of the movement, invalidations can occur, there is no 100% reliable analysis, take your own precautions when trading.

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MrBullishSail
MrBullishSail

Technical Market Analyst Crypto trader Website: https://www.buymeacoffee.com/XCdmEAZnD Twitter: https://twitter.com/armijogarcia


TA crypto market
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