BNB\USD Trading Ideas: 06/13

Here is a daily chart Binance coin against Dollar

Over the past 6 months, the price has increased by 700% the trend is strong and a good idea will be to have this asset in your portfolio

During these 6 months, the price had an average correction by 10% and the most significant correction was 26%

So now we just have to wait for the correction and try to buy it desirable on retest the previous ATH if act riskier you could try to buy a breakthrough the current ATH

Indicators on the daily chart

MACD every time shows the new hill which is higher than the previous

RSI holds above the 50th level and predominantly located in the buy zone.

Indicators 4hr timeframe

RSI already shows overbought but MACD signal line is looking up and we cannot count it as a divergence yet

If we try to adjust BNB to Elliotte waves we can see a good perspective here

If we really got the 1st and the second waves we now in the 3d wave and there are no doubts for now. The Fibonacci trend extension shows the targets for the 3d waves and the first is already close to 1.618.

By the way, if we reach the 4,236 (100$) level the BNB capitalization will be around 14 billion what sounds not ridiculous in the case the most popular exchange in the crypto.

Let’s take a look at a daily MDR

And here is the opposite picture for further growth. ‘Asks’ are growing 13% for the last day and the weekly is not better

the main deals are on the Binance and here the supply overweight is quite significant

Conclusions:

If you are bullish

Your entry is — 23–25$, stop — 17.9$, take — 43$

If you are bearish

Your entry (as a false breakout) — 35.3$, stop — 37$, take — 32$