Binance Coin vs Bitcoin | Multiple Timeframes

5 apr 2020

Let's get straight to it and start by looking at the daily timeframe for Binance Coin vs Bitcoin, this is the main chart above.

• Here we can see a strong reversal candle (circled in light blue) and also a cup pattern, this can result in mainly two scenarios...
  
• BNBBTC goes straight up if prices can conquer EMA50 (0.002309) today.
  
• Prices can also print a small drop before moving up, this would complete the classic cup & handle pattern.
  

Remember that charts are always changing, so a bullish chart today can become bearish tomorrow... Always have a plan before you decide to trade... Let's continue!


Here we have the weekly chart for Binance Coin (BNBBTC)


After a new low was hit, BNBBTC bounced and prices are currently trading above EMA100, weekly candle closes today for signal confirmation.

Resistance is now being met at EMA10 (0.0020477), this is a very important level.

• Conquering EMA10 can lead to a 55% jump, easily.
  
• But if prices for BNBBTC retrace and close below EMA100 (0.0019604), we will test the lower support (red arrow).
  

Additional information can be found on the chart.

Thanks a lot for reading.

Namaste.