Binance, BNBBTC fundamentally solid coin with great long-term potential. Also one of the better performing coins, especially during current uncertainty or BTC corrections and bear market.
I've talked about the inverse relationship of BNB vs BTC before so you can read about that under related posts as well.
But let's take a look at how it's performing right now and see what we have in store.
Since half May BNBBTC is on a nice run-up and started a new impulse wave up which you can see above. I think we're currently in wave 5 within a channel.
If I would target the wave 5 at the moment then it would be around the 25.000 - 25.500 satoshis area cause its confluent with the 1.618 and .786 fib. extension levels of respectively wave 1-2 and wave 3-4 are and also touch of the upper trendline (purple).
So for the short term, I think we can expect BNBBTC to hit the above target.
Leave a comment if you have any questions.
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Good chart, Thanks for sharing. With the upcoming coin burn could we see near the 30k mark? maybe..
Trade_Masters
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@MaxAlt, fundamentally and upcoming coin burns and plans I don't see why BNB won't reach the 30k mark. The coin burns in the past has usually brought nice upward movement in BNB price as well, usually after a week or two.
MaxAlt
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@Trade_Masters, it's been a great ride up so far. 30k would certainly put a happy smile on my trade face. Thumbs up & following.