Binance Coin (BNB) - a wide channel

2022年10月28日

BNB has been oscillating in a wide channel since Feb last year (2021); almost ideal situation for swing traders.

Now, since last Jun, BNB started a upward (impulse) wave and recently broke a major downtrend line, and now an inverted wedge as a correction pattern is almost finished. Can we see BNB reach the upper line of the channel? or even break the channel and ascend further? Yes? maybe?

Well, not so soon. Have to wait for BTC to break some major lines, Fed's next Wednesday meeting and see how stock market will react!

Also market is acting strange today: SPX up, DXY up and BTC is also up. So be careful :)

2023年7月4日

註釋

BNB analysis is still valid: oscillating in a wide sideways channel. Recently, BNB made a double bottom. Let's see if this will make BNB start an upward wave or not.

P.S. Notice how the price reacted to the channel's middle line almost every time.

2023年11月5日

註釋

BNB weekly chart update

2023年11月5日

註釋

BNB daily chart update.

2023年11月30日

註釋

After BNB broke the minor downtrend, an uptrend wave started, then BNB went into correction wave which seems pulling back on the major uptrend line. Let's wait and see when this correction ends.

2024年2月8日

註釋

BNB proceeds according to the analysis. If BNB breaks the wide channel's middle line, further upward movement is possible. Let's see what happens.

2024年2月15日

註釋

So, BNB broke the wide channel's middle line, and that means hello to the channel's upper line. There is probably a pullback or a correction. Let's see what happens.

2024年3月3日

註釋

So, if BNB breaks the wide channel upward, there are two possible targets that BNB can reach. The first is the green line, which is equal to the width of the channel. And the second is either the 0.786 or 1 Fib extension levels. In the past, minor wave 5 has reached the Fib extension level 1; can the current major wave 5 do the same? Let's see what happens.

2024年3月14日

註釋

Wow, just amazing; BNB went up and reached the wide channel's upper line. The extended wave v reached the upper line. So, BNB could rest here for a while; either under this line or break the line and rest above it. Let's see what happens.

2024年5月14日

註釋

So, BNB is resting under the channel's upper line, in a sideways triangle pattern. Let's see when BNB breaks this triangle.

2024年6月4日

註釋

So, BNB's correction is finished, BNB broke the triangle pattern, and now trying to break the wide channel's upper line. Let's see what happens.

2024年9月26日

註釋

So, after BNB's minor correction finished, BNB went up and wave (5) completed. Then major correction started and BNB was in correction for quite a while. Now, it seems that major correction wave ii is also finished when BNB broke above the descending channel. Let's see what happens.

2024年11月9日

交易進行

So, BNB correction is finished, and the only thing left is for BNB to break the wide channel and goes up. Let's see how high BNB can go.

2024年12月8日

註釋

So, BNB broke the wide channel and is going up. Let's see how high BNB can go.