#BinanceCoin #BNB #BNBUSDT #Bitcoin
BNB closed four consecutive weeks green and this week starts red. I guess it would be normal to assume and accept a bearish close this week due the fact that bullish action has been present for four weeks straight. This isn't the case.
When the Cryptocurrency market turns bullish, it grows non-stop. Binance Coin started red this week because it will end green. Any and all bearish action should be taken care of as soon as possible, early in the week, so that the end can end up higher.
This week will be the fifth green week in a series... Please, allow me a few minutes of your time to go a bit deeper.
The chart above shows BNBUSDT on the daily timeframe. Yesterday's session is a reversal signal based on candlestick reading, a Doji. This Doji produced a higher low to end a small, short and quick retrace. Support is found right above EMA233. Today, the action turns green.
Binance Coin, Bitcoin and Ethereum all move together. Binance Coin points to a move first toward $1,011.11, followed by $1,151. These are the targets in the coming weeks.
As Binance Coins moves above $1,000, Bitcoin will move above $100,000.
I realized something interesting. Bitcoin peaked at ~$98,000 and I mentioned $108,000 as the next resistance zone for a higher high, I mentioned these things without a thought. When I looked at the BTCUSDT spot trade-numbers from 21-November, I realized that $98,000 is the second target and $108,000 is marked in bold.
Each time a resistance level is hit there is a retrace. Patience is key.
Thanks a lot for your continued support.
Namaste.
✅ Trade here on $BNB
