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BNB Perpetual Futures Contract

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BNBUSD.P trade ideas

BNB Short term trend : tensionBNB heavily subjected to news in the short term. The market is testing itself. For any trade position, keep in mid 2 safety resistance: - $317: week - $290: strong Testing the 337-345 has failed in the last couple of weeks. Yet we can see in the slow fall a potential bearish trend in line with the former push: - If this trend is broken (green line) BNB would likely test 317 and 290 areas. - If it follow the green line as bottom and breaks the top downtrend (top red line) BNB will go again testing the 333, 337, 345 areas. The uptrend to 350 was not sustainable anyway, the slow downtrend could well be healthy. Watch the news on BTC and BNB, lots happening recently, market is tense. My assumption: 317 likely to fails, if so, short above 310 and buy/buy back at 290.
BINANCE:BNBUSD
by balaupre
Binance Coin: stay alertedThe run of deposits from banks impact the ongoing surge in the crypto prices. Major coins gained the most, due to easiness of both funds deposits and possibility for transfers to other wallets. That was the winning combination during the previous week. BNB is certainly one of the coins with widely available infrastructure for both above-mentioned targets. Although the $300 resistance line had been tested at the start of the previous week, the price easily went to the higher grounds, ending the week modestly below $350 resistance. Based on the charts, the move is still not over, as it will need a few more days for existing funds in the banking system to be extracted and moved to the crypto market. This should be taken with a precaution, as it poses significant risk for the market`s move to the down side, when all speculative positions enter into profit-taking season. With the latest push to the upside, RSI went to the overbought side of the market. Usually it will be an indication that a short reversal is ahead, however, at this moment, it might take some time for such a move. The reason is that we still don’t know how much more money is pending to be transferred from banks to the crypto market. MA50 continued with its divergence from MA200, following the Golden cross that occurred a few weeks ago. Regardless of the positive developments during the previous week, investors and traders precaution is still necessary. This comes from the fact that too much funds were transferred in the crypto market within too short a period of time. The nature of these transfers is such that these funds are not there to stay on the crypto market. Withdrawals might start anytime, and with it, a drop in prices. BNB will continue to test $350 resistance, and in case that the market exhausted itself, then the price will enter into a short reversal, at least to $320. Whether the price might go higher from $350 it will depend solely on new deposits entering the market.
BINANCE:BNBUSD
by XBTFX
BNBUSD Still inside a Triangle despite the recent surgeBNBUSD is trading inside a Triangle pattern since May. The price is at the moment very close to the Triangle's Top. Trading Plan: 1. Buy if the price breaks over the Triangle' Top. 2. Sell as long as the price trades under the Triangle' Top. Targets: 1. 398.0 (Resistance 1) 2. 270.0 (1st Rising Support of the Triangle). Tips: 1. The RSI (1d) about to break inside the overbought zone. An RSI of at least 75.00 has formed the previous price highs. Please like, follow and comment!!
BINANCE:BNBUSDLong
by TradingBrokersView
Binance Coin: questionable recoverySilvergate Bank, Silicon Valley Bank, FED Chair Powell and inflation issues were too much information for a one week for markets to handle. General negative market sentiment made an impact on all coins, where BNB lost less than 5% in its cap during the single week. It should be noted that for the last three weeks BNB was loosing strength due to negative news surrounding Binance exchanger. Selling orders were dominant during this period, and BNB was pushed down to lowest weekly level at $265. The coin is finishing the week around $280 level, which is a short term stop before a heading toward the $300 resistance. The $250 support line has not been tested during the previous week. As of the time of general market sell-off, the RSI indicator was pushed down quite closely to the level of oversold market, but the clear oversold side still has not been reached. It leaves some space for the price of coins to move lower to the downside. Moving average of 50 days has slowed down its divergence from MA200 counterpart, which might impact the Golden cross technical formation that occurred at the beginning of February. The week ahead requires investors and traders precaution. It might take some time until the market calms down, after the shocking weekly news. In case of further negative sentiment, the price of BNB might slip to the downside, and to the level of $250 support line. Still, in case that there is no further negative news, then it might expect some recovery, at least to the level of $280 up to $300 resistance line. Some sort of significant move to the upside should not be expected during the forthcoming period.
BINANCE:BNBUSD
by XBTFX
1
Binance Coin: slow moves to continueBNB continues to be under the impact of all the news surrounding Binance exchanger. During the previous week several senators in the US Congress requested detailed information on Binance`s business operations amid concerns over the company's practices within a field of compliance with a law on anti-money laundering that sanctions. At the same time, Paxos announced that it will halt minting new BUSD as it has been requested by the New York Department of Financial Services amid concerns over offering unregistered securities. In addition to the mentioned, there was a general negative market sentiment related to the developments with the Silvergate bank. All this drove the BNB`s price to the downside, to the level of $288, where the coin is finishing the week. During the whole previous week, the price of BNB was pressured to the downside, with prevailing selling orders as of the end of the week. Still, at the beginning of the week the price was struggling to hold around the $300 resistance line, but without success. During the week the RSI indicator was pushed further to the downside, below level of 50, reaching level of 38 as of the end of the week. This is a clear indication that the market is eyeing the oversold side, leaving some space for the price to move further to the downside. Moving average of 50 days clearly slowed down its divergence from MA200 counterpart, putting into question recent Golden cross. Considering significantly decreased daily trading volumes on the crypto market, there is indication that the price of BNB will continue with slow moves during the week ahead. There is a probability for the price to move further to the downside, only if the current short-term stop at $280 does not hold selling pressures. At the same time, the $250 support line is still far away, in which sense, there is currently a low probability that this level might be tested in the week ahead. In case that $280 holds, then there is probability for a quite a short reversal, at least to the level of the resistance line at $300.
BINANCE:BNBUSD
by XBTFX
BINANCE - Higher Timeframe OverviewFrom looking at BINANCE, we can see that we are still in wave 4 which is an ABC correction. We are now in wave B which is broken down into 3 subwaves. We've seen subwaves A and B and now in subwave C. See lower timeframe analysis for the breakdown. Trade Idea: - Watch for completion of subwave C (of Wave B) - Once complete, watch for C wave to make an impulse down (it can be an ending diagonal) - Watch the structure at the lows if we bounce from it. - Targets: 680, 870, 1000 ,HODL the rest and manually close. Goodluck and as always, trade safe!
BINANCE:BNBUSD
by WicktatorFX
3
BNBUSD Bull flag targeting $390The Binance Coin (BNBUSD) is below its 1D MA50 (blue trend-line) trading inside what seems like the early stages of a Channel Down ever since the rejection on the 336 Symmetrical Resistance (which has formed 3 tops since May 23 2022). The last such rejection though formed a similar Channel Down (red) that ended up being nothing more than a Bull Flag that later made a Higher High. The Higher High bias emerged as the pattern since June is a Channel Up. This time BNB has the 1D MA200 (orange trend-line) as a Support and not as a Resistance and is coming off a 1D Golden Cross. We are bullish and our first target is Resistance 1 (398.0) and if we get a 1D candle closing above, then extension to Resistance 2 (460.0). P.S. We have been medium-term bullish on BNB since December: ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
BINANCE:BNBUSDLong
by TradingShot
5