Cryptocurrency
by Seth Parker on June 6, 2018

Binance Coin Analysis – New long-term highs

The first piece of the day was about the Cardano, where our prediction from the previous piece was spot on. We will not change this tradition and now, we will analyse the Binance Coin, where also our previous work did great. The last time, when we analysed the Binance Coin was the 12th of April and we said that:

“The situation is bullish […] As we can see, so far, so good. „

and

„To be super optimistic about this coin, there is just one thing missing here. It would be great to see the breakout of the 14 USD resistance (black), which stopped the price at the end of March and the beginning of April. That breakout is very possible and should open us a way towards the new highs. „

Binance Coin Chart

We did break this resistance and we did make new mid-term highs. Actually, we are making new long-term highs (since January) right now! From the technical point of view, the current upswing, is caused by the bullish breakout from the rectangle pattern (green lines) and the last bounce from the major up trendline (blue).

As long as we stay above the blue line we do have a positive sentiment here. Binance Coin is in a good shape and in the next few days, should continue to climb higher.

By Seth Parker

Seth is a professional trader with over 10 years of experience. He specializes in the technical analysis. His main focus is on the pure Price Action. In his trading, Seth used the trends, supports and resistances and technical formations. Always, the most important thing in his strategy is the money management. Seth reached a proficiency in trading and for the past three years is doing that for a living enjoying the sun and lovely beaches of the Spanish coast.

More content by Seth Parker

Comments (0 comment(s))