BNB/USD - Wedge breakout! Can BNB sustain it?
Binance Coin just broke out of this wedge in blue and now price is hovering just above the resistance turned support.
If we have continuation and BTC/ETH don't tank, then I can totally see BNB pumping some more in the next few days up to around $450 in the best case scenario.
The Daily indicators are curving up, therefore I'd not be surprised to have a nice little rally once this move is confirmed.
Medium term, BNB will continue to bounce around our major support and resistance. Don't see BNB breaking either of these unless the market leaders BTC/ETH have a breakout as well.
You could consider a long entry if we have continuation. If we're rejected then wait to hit support before buying.
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If we have continuation and BTC/ETH don't tank, then I can totally see BNB pumping some more in the next few days up to around $450 in the best case scenario.
The Daily indicators are curving up, therefore I'd not be surprised to have a nice little rally once this move is confirmed.
Medium term, BNB will continue to bounce around our major support and resistance. Don't see BNB breaking either of these unless the market leaders BTC/ETH have a breakout as well.
You could consider a long entry if we have continuation. If we're rejected then wait to hit support before buying.
Like and follow if you liked this idea!
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