Binance Ready to Fly ?

4 days ago

Hi there, VCP Trader here with another exciting idea—this time on an amazing crypto: Binance Coin (BNB)! Let's dive into the charts.

I’m a big fan of trading contractions, as they offer a very favorable risk-to-reward setup. I particularly love watching price action squeeze into tight consolidations—it’s like the candles have no space left to move!

This chart speaks volumes. There are three distinct bases in total, and we’re currently sitting in the 3rd base. As long as we stay above the point of polarity (the level below which sellers would regain control), this setup remains in play.

Let’s talk about cause and effect, a simple yet powerful concept in trading. The cause here is the prolonged consolidation phases (bases) forming structure. And what follows? The chart is screaming for an effect—a potential explosive breakout!

Key Highlights:
Potential Target: $1,200 for Binance Coin.
Critical Level: $500—BNB needs to close below this lever for at least two consecutive weekly for the idea to be invalidated.
Patience Pays Off: I’d love to see more consolidation here to let the base mature. The tighter the contraction, the bigger the move!
What do you think? Let me know your thoughts, and let’s keep sharing and growing as traders. 🚀

Much love,
VCP Trader 💚