The weekly USD chart shows us a combination of candles indicating both a double bottom and the equivalent of a bull hammer - The Daily BNB/BTC chart shows us the candles are on bullish support of the 1x1 fib ray and pushing thru the arc pair. We should see price action when the candles exit the arc, in the event of the candles breaking the blue 1x1 thhe price would go bearish - On breakout the target would be the next arc pair - On the fundamental side what drew me to this coin is that BNB is one of the very few cryptos that actually have a real world use, Binance account holders get a 50% reduction on trading fees if paid in BNB and this makes it integral to the functioning of the trading on the exchange - As Binance is a market leader in an extremely fast growing market this is no small thing - Poloniex have just been bought by a Goldmans Sachs backed group, you can bet Binance has had offers and their site is a lot better and has a lot more to it. There are rumours going around that people have offered up to $25K just to try and buy a Binance account off a holder - I'm going long on BNB, in some way it seems not far off from holding shares in Binance
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The market trolled my chart but back on track now *) - just broken out of the wedge against BTC
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Smashing it up
