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BNB/USDDT 1HInterval Review ChartHello everyone, let's take a look at the BNB to USDT chart on a one hour time frame. As you can see, the price dynamically moved lower from the local upward trend line. When we unfold the trend based fib extension grid, we see that the price remains at the upper limit of the support zone from $214.7 to $213.6, but we can see a decline towards the support level at $210.4. Looking the other way, we have the first resistance zone from $215.4 to $216, then the second zone from $216.7 to $217.5, and then strong resistance at $218.7. Looking at the CHOP indicator, we see that most of the energy has been used, the RSI shows a strong recovery with room for further decline, but the STOCH indicator has exhausted the energy, which may indicate a moment of recovery.
by cryptodailyuk
BNB/USDT 1DReview Resistance an SupportHello everyone, welcome to a review of the BNB vs. USDT pair, taking into account the one-day timeframe. First of all, using the blue lines, we can mark the sideways trend channel in which the price is currently approaching its upper limit. Now let's move on to marking the places of support. We will use the Fib Retracement tool to mark support, and here we will first mark the strong support zone from $234 to $228, however, if the price falls below this zone, we can see a drop to around $220.4. Looking the other way, we can also mark the places where the price should encounter resistance on the way to increases. And here we see that the price is moving towards the upper border of the channel, where we have a strong resistance zone from $244 to $250, only when we exit it upside, we can attack the resistance at $256.8. Index CHOP indicates that there is still energy to continue this movement. The MACD indicator, despite corrections in the channel, maintains an upward trend. On the other hand, on the RSI we approached the middle of the range, despite everything we can see an attempt to attack the first resistance zone.
by cryptodailyuk
BNB/USDT Analysis, 04/20/2019BNB/USDT update, 04/20/2019 Because of the current configuration, I believe that we might correct a bit. We aimed for the ATH and managed to get through with a a higher high, however we quickly got rejected. Currently, we are stagnating between -0.786 and the cluster -0.618 -0.65, above an area that may have become a support. As for the candle, it varies between green & red in shooting star, it goes without saying that a close red would be an indication of an imminent correction. Especially since the indicators are all in an overbought zone, and although the RSI no longer forms a bearish divergence, it remains very bearish. To conclude I would say that if you own BNB and the daily were to close red, it would be wise to sell them in order to buy them back lower, on the $20 or even $17.5.
Short
by CryptoTeethow