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Binance Coin to trade on EToro: Price Analysis

  • Etoro has announced that they will be listing Binance Coin to be freely traded
  • BNB will be listed later this week
  • The market has not yet reacted to this news
  • As of writing BNB is 2% down on the day.


What does the Technical Analysis Suggest? 

  • As a result of Bitcoin down 2% on the day, BNB has matched that to also be 2% down on the dat
  • BNB has been in high accumulation over the past 4 Months
  • The past 1 month has had heavy sell side pressure
  • The lowest it has seen in the past four months is $8 – the high being $12.25
  • Currently being traded within 2 tight ranges.
  • Trading under the 15MA at the moment – this can be used as a resistance, with the bullish news BNB could trade at over $10.5 in the next 48 Hours.

What does the short-term T/A suggest? 

  • There are several volume gaps at $8.40 and $11
  • As a result of this bullish news and the entire crypto market looking for profit making coins – BNB could be Fomo’d into.

What should I do if i want to enter into this trade?

  • Beaware that the lows is $8 and the highs $12.25
  • That BNB could revisit $8 – however as  result of the bullish news it will seek to retest $12.25

Enter at market level and take profit at $11 with a full take profit at $12.25. Stop loss should be at $9.46

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