JustChartThings

$BNB.X #cryptocurrency #BNBBTC one of the cleanest performing

BINANCE:BNBBTC   BNB/BTC
coins over the past month. Flags have been getting shorter (in time) before resolution implying the market is becoming increasingly impatient to trade/invest BNB. It's not surprising since they're (1) one of the few decent exchanges that has responded rapidly to scaling issues and (2) has has significant growth over the past few months. However, the less time for consolidation in each flag, the less support they will be during a correction here. For now, watching for the breakout from the current flag, but will be defensive in taking profit. While Binance is a good exchange, and I think it will do well long-term, it's going to befacing increasing pressure from decentralized exchanges, as they become available in the future. For now, though, it remains one of the best.

While the weekly chart implies there is further upside potential, coins tend to follow either (1) resolution based on raw change in BTC             value or (2) resolution based on percent change; for BNB it has been variable, and there is no precedent for the daily chart , so it becomes difficult to use this metric for predictive value.

snapshot


If I wanted to take a long position here for future growth, the daily chart is most useful, as there should be strong demand in the zone shown. I also like the resolution of the longer consolidation flag as described in the daily chart , which indicates a consolidation period to begin soon.

snapshot


You can trade BNB on Binance, a growing platform you should try if not yet already registered. Using their token, BNB, lowers trade fees to 0.05% for some markets. If interested in registering, I would appreciate if you use my referral link: https://www.binance.com/?ref=10276631. It helps me a little and your fees are the same!
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