Binance Coin, the token for the exchange that is used for fees and is a relative index to how Binance operates has been dumped over the past two weeks. This is the same behaviour first identified by Nouvive in early January- late February, there was a 100% Spike up, before crashing down by close to 55%.
Later in April, the same move happened, but the support was strong enough to support a bounce over two months for another 100% move.
Nouvive has recommended following this to enter longs or buys in the identified Green box, this would represent both the heavily weighed support level first seen in April with the box also acting as a counterweight to a 55% move downwards.
Moreover, Nouvive has spotted trends illustrated that Binance has been creating more exchanges, including the recently announced Uganda Exchange and a Decentralised exchange to support the increased amount of retail investors volumes.
Nouvive recommends a Dollar Cost Averaging at the stated levels below:
Enter 25%: 0.0014224
Enter 25%: 0.0013060
Enter 25%: 0.0012800
Enter 25%: 0.0012200
Take Profit 100%: 0.002800
Stop Limit: 0.0011855
Time: 2.5 Months
Probability – 94%
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