Binance Coin: Are We Bullish Yet?

28. Okt.

Here we see Binance Coin (BNBUSDT) moving within an ascending channel since the 5th of August. This pair has been moving higher toward resistance now for 84 days. While this action is bullish, we see trading volume continuing to decrease thus revealing low interest from buyers, the move is weak.

While prices are going up, we can see that BNBUSDT still trades below its 28-September high and also its major 16-March peak price, revealing that market conditions remain the same.

There can be shakeouts, strong moves and wild swings, but we are not bullish just yet.

We continue bearish on Binance Coin (BNB) and the other Crypto giants.

Thank you for reading.

Namaste.