Binance Coin Potential Bounce / Reversal Zone | +15% Possible?

5 Sep 2019

Binance Coin (BNBBTC) has reached a potential bounce/reversal zone, here is why... Make sure to hit like to continue reading...

We can see BNB printing a strong green candle and now we look at the different signals that support this move as a potential reversal zone:

• We can spot strong bullish divergence on the MACD.
  
• We can notice increasing volume and a challenge of EMA10 on the bounce.
  
• A strong bullish engulfing candlestick pattern is also in play.
  
• RSI hits oversold and bounces with strength. It hit Dec. 2018 levels, its lowest ever (check chart below).
  
• Binance altcoins maintaining their last low and producing big gains; Altcoins market early warning signals for smart traders.
  

Bullish engulfing:
RSI Oversold:

Market feeling
Binance Coin (BNBBTC) can easily bounce here to continue moving lower or completely change trend. This analysis is strictly for the next move. After the next move, a new analysis can help us identify the potential scenarios that come next...

What's your take on the altcoins market making a strong comeback in less than 2 months?

What's your opinion on this chart and Binance Coin?

Share your thoughts on the comments section below.

Remember to like, follow, comment, and meditate...

Namaste.