BNB/BTC - Only chart that matters! Expect higher levels!
BNB has found a major resistance at around 0.01 BTC and was pushed back. This coincided with a price of $635.
Can we go higher? Yes. The BTC pair chart shows that we are in a massive ascending channel that has formed since BNB was launched back in 2018.
We have NOT yet reached the top of this channel which was resistance in the past and pushed price back down.
As you can see, we appear to be on leg three in a Elliot wave up. As such, I'd expect BNB to continue up until we reach anywhere around 0.02 BTC / BNB which is the channel top. At that point I would be surprised for BNB to continue up. Such a level would correspond to a price of around $1,300/BNB at the time of this post.
Time will tell, however I don't think BNB pump is over just yet. Once we reach the top of this channel, it is best to secure profits. Then re-assess.
The price action remains bullish. We are quite extended on the indicators, but in such a bull market, we can continue for quite some time until we will correct.
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Can we go higher? Yes. The BTC pair chart shows that we are in a massive ascending channel that has formed since BNB was launched back in 2018.
We have NOT yet reached the top of this channel which was resistance in the past and pushed price back down.
As you can see, we appear to be on leg three in a Elliot wave up. As such, I'd expect BNB to continue up until we reach anywhere around 0.02 BTC / BNB which is the channel top. At that point I would be surprised for BNB to continue up. Such a level would correspond to a price of around $1,300/BNB at the time of this post.
Time will tell, however I don't think BNB pump is over just yet. Once we reach the top of this channel, it is best to secure profits. Then re-assess.
The price action remains bullish. We are quite extended on the indicators, but in such a bull market, we can continue for quite some time until we will correct.
Like and follow if you liked this idea! Also join my crypto community to stay in touch!
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