BNB Re-entry

25 mar 2019

Yesterday's move was clearly a fundamental one with the announcement 17 hours ago. Basically they have implemented a staking/lottery system which gives BNB even more intrinsic value. We bought BNB back in December between 4 and 5 dollar because we believe in IEO (Initial Exchange Offering), so we are just riding this trend and wait for clear bearish signs. Zoomed in on the 4H time frame, we can see that we are in a clear uptrend with hardly any retraces. This tells me that if you want to hop on the train you have to buy quick. There is a potential trade setting up at $16 (stop around 13.8) which is the last resistance, and this trend is all about support and resistance flips. It’s either that we break trough this resistance then you can buy on strength, or the last scenario in wich BTC breaks to the downside and drags the whole market with it.

Good luck!

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