Binance Coin Technical Analysis

Markets Jun 20, 2020

Let's get right into it without any delays everyone.

The chart above shows BNB/USD on the daily resolution.

Dissecting How We Put the Chart Above Together

First it starts with the underlying support point that buoyed the price of $BNB from March 6th to May 10th, 2020.

From there, if we plot the overhead and underlying horizontal support & resistance points, respectively, we end up with the following:

Assuming a Bounce

Assuming that there is a bounce of any sort from the support point that we identified in the screenshot above, the trajectory of $BNB's price action would result in the following:

Maximum Upside

If this were the case, then the maximum upside from this point moving forward would be approximately +15%.

See below:

Looking at Other Momentum Indicators

We must look at other momentum indicators in order to gain a better idea of whether there will be a bounce or if the price will fall below the support point identified in the chart above.

Cryptomedication Volatility RSI

Below is the metric reading from the Cryptomedication Volatility RSI:

Understanding the Indicator

The Cryptomedication Volatility RSI is an indicator that tracks volatility in addition to momentum.


Going through the remainder of the momentum-based indicators (which you all have access to if you're a Librehash member), it should be patently obvious that there arae no real avenues to make money off of $BNB, both in the short or the long-term (for the USD pairing) ; we'll go ahead and re-visit this one later.

Seems pretty obvious to me that only the "DeFi" tokens are the ones that are being pumped to high hell this weekend.



Happy to serve and help wherever I'm needed in the blockchain space. #Education #EthicalContent #BringingLibretotheForefront

Great! You've successfully subscribed.
Great! Next, complete checkout for full access.
Welcome back! You've successfully signed in.
Success! Your account is fully activated, you now have access to all content.