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Cryptocurrency Ecosystem => Crypto Exchanges => Topic started by: MRM on September 04, 2020, 08:09:45 PM

Title: Binance Coin Retraces to $21 Support, Attempts Massive Move Soon
Post by: MRM on September 04, 2020, 08:09:45 PM

Binance Coin is currently trading at $21 at the time of writing. Buyers have been attempting to break the resistance at $24.

On August 5, the attempt at the resistance resulted in a further downward move. The coin fell to $21 low and resumed upward move. On August 18, BNB retested the resistance, thereby forming a bearish double top. This bearish double pattern is a bearish signal that is responsible for the downward movement of Binance Coin. Meanwhile, the coin has fallen above the $21 support. The upward move will resume if the current support holds.
Source: https://coinidol.com/binance-coin-retraces-support/

Title: Re: Binance Coin Retraces to $21 Support, Attempts Massive Move Soon
Post by: highnayem34 on September 06, 2020, 10:41:53 PM

The Fibonacci tool has indicated a further upward movement of the coin. On August 11, a retraced candle body tested the 0.618 Fibonacci retracement level. It indicates that the market will rise to 1.618 Fibonacci extension level or the high of $29.