Binance Coin Update
This has come back to a slightly lower support. If you kept the original stop you'll still be in, if you moved it up to entry you'll be out. I am not sure if the drop off 12 hours ago was triggered by BTC but the price has held for this evening's movement.
We could still be following either of the lines. I prefer to wait for resistance confirmation here breaking 39 rather than simply entering, however we are on support so it is up to you if you want to attempt the trade early.
There is bullish divergence showing across all indicators however this is only on the hourly chart so isn't a strong signal. 4h indicators are turning up but still have room to go lower.
I hope you enjoy this analysis and I would like to receive your opinions about scenario that I exposed. What is your opinion about BNB next move? Do you think the price will remain stable, will it go up or down? I think that sentiment in cryptocurrency market is probably one of the most important facto, for this reason it has a great influence on the price as we can see daily.
Stay tuned for next updates regarding BNB and other cryptocurrencies.
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