BNB is showing bearish price action, and bullish accumulation on the A/D indicator. Someone is accumulating BNB heavily right now. Time to go LONG.
BNB has been dropping since 1-Apr after a crazy rally from Nov-18. The price broke previous support as shown in the bright red zone and now fighting to break back up. From the daily cloud we can see a bounce from the Kijun-Sen which is a good sign. If it cannot stay above previous support and break down the Kijun-Sen I am aiming at the ABC correction to around 0.38 fib (~0.0030 - 0.0032). The red vertical line show the date of the last snapshot (24-Apr) for the next round of binance launchpad and I do not expect the price to drop too much before that. https://www.tradingview.com/x/w3EitV1o/ Looking at the falling wedge on lower time frame we can see a bull div on the MACD and now breaking out. https://www.tradingview.com/x/MHfLdNla/ The price is forming a flat pattern which is a sign for continuation to the upside. I would observe how the break out develop and whether we can break up the flat pattern to the upside. I would buy a break up of the flat pattern with 30% of the total BNB i want to buy as there is still moderate chance we keep going down to test .382. Hope you like my content and thanks for your support! Tip jar: BTC: 361br5cQe3Yft4jy8m759WBFWk4NXedrAh ETH: 0x4aBdf5d200c58D69477876F2fEa13E439ce1458d