Binance Coin broke and closed above the 50-day simple moving average (SMA) on March 1 but the bulls could not sustain the higher levels. The bears pulled the price back below the moving averages on March 4 and the BNB/GBP pair has been trading close to the 20-day exponential moving average (EMA) since then.
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MARCH BLOGS
BNB COIN – HOW TO TRADE BNB/GBP 8TH MARCH 2022 – UPDATED CONTENT
The flattish 20-day EMA and the RSI near the midpoint suggest a range-bound action in the near term. If bulls drive the price above the 50-day SMA, the pair could rise to the overhead resistance at £329.
Alternatively, if the price turns down from the current level and breaks below £275, the bears will try to pull the pair to the strong support at £247. This level could attract strong buying from the bulls as they have successfully held it on two previous occasions.
The next trending move is likely to begin on a break above £329 or on a close below £247. Until then, traders may consider buying on a rebound off the support and selling near the resistance.
BNB COIN – HOW TO TRADE BNB/GBP 1ST MARCH 2022
We said in our previous analysis that traders will aggressively defend £247 and that is how it played out. Binance Coin dipped below £247 but this move proved to be a bear trap.
The price quickly turned around and bounced sharply, indicating strong demand at lower levels. The BNB/GBP pair has reached the 50-day SMA, which is again acting as a strong resistance.
If the price turns down from the 50-day SMA, it will suggest that bears continue to sell on rallies. The bears will again try to pull the price toward the strong support at £247.
Conversely, if the price rises above the 50-day SMA, it will indicate a possible change in trend. The pair could then rise to £329. A break and close above this level will complete a double bottom pattern. This setup has a target objective of £411.
FEBRUARY BLOGS
BNB COIN – HOW TO TRADE BNB/GBP 22TH FEBRUARY 2022
Binance Coin rose to the 50-day simple moving average (SMA) on February 15 but the bulls could not clear the overhead hurdle at £329. The failure to do so may have led to profit-booking by short-term traders.
The price turned down from the 50-day SMA on February 16 and plummeted below the 20-day EMA on February 17. The buyers attempted to push the price back above the 20-day EMA on February 18 and 19 but the bears were in no mood to relent.
That triggered another round of selling which has pulled the price near the strong support at £247. The bulls are likely to defend this level aggressively.
If the price rebounds off this support, the bulls will again attempt to push the BNB/GBP pair above the moving averages. A break and close above the 50-day SMA will be the first sign that the correction may be ending.
Conversely, a break and close below £247 could attract further selling. Traders may remain on the sidelines until a bottom is confirmed.
BNB COIN – HOW TO TRADE BNB/GBP 15TH FEBRUARY 2022
We had suggested traders book partial profits on their long positions as the bears were likely to defend the 50-day SMA with vigour. That proved the right thing to do as Binance Coin turned down sharply on February 8, indicating aggressive selling near the 50-day SMA.
The bears pulled the price below the 20-day EMA on February 11 but a minor positive is that the bulls did not give up much ground and the BNB/GBP pair bounced off the uptrend line.
The pair could now rise to the 50-day SMA and then try to break above the February 8 intraday high of £329. If that happens, the pair could rally to £377.
Conversely, if the price turns down from the overhead resistance, the bears will again attempt to pull the pair below the uptrend line. The flat 20-day EMA and the relative strength index (RSI) near the midpoint, indicate a possible range-bound action in the next few days.
BNB COIN – HOW TO TRADE BNB/GBP 8TH FEBRUARY 2022
We had said in our previous analysis that short-term traders may try to buy above £300 and that turned out to be a profitable trade.
The bulls have pushed the price above the downtrend line and the BNB/GBP pair could now reach the 50-day SMA.
Traders may book partial profits and trail the stops on the rest of their position because the bears are likely to pose a stiff challenge at the 50-day SMA. If bulls flip the £300 level into support, it will suggest that a bottom may be in place.
The bulls will then make one more attempt to push the price above the 50-day SMA. If they succeed, the pair could rise to the stiff overhead resistance at £377.
Alternatively, if the next pullback drops below the 20-day SMA, it will suggest that the downtrend is still intact. The pair could then retest the strong support at £247.
BNB COIN – HOW TO TRADE BNB/GBP 1ST FEBRUARY 2022
Binance Coin bounced off the strong support at £247, suggesting that bulls are defending this level aggressively. The buyers will now try to push the price to the downtrend line, which is a key resistance to watch out for.
If the price turns down from the downtrend line, the bears will again try to pull the price to £247. A break and close below this support could signal the resumption of the downtrend.
The short-term traders may attempt to ride the break above £300 which could reach the downtrend line. If bulls do not give up much ground at the downtrend line, it will increase the possibility of a break above it.
If that happens, the BNB/GBP pair will indicate that the downtrend could be over. The pair could then rally to the 50-day SMA.
JANUARY BLOGS
BNB COIN – HOW TO TRADE BNB/GBP 25TH JANUARY 2022
Binance Coin broke and closed below the 200-day SMA on January 20. That was followed by another sharp fall on January 21 which pulled the price below the psychological support at £300.
The BNB/GBP pair dropped close to the strong support at £247 on January 22 and the bulls have held the level since then. The bulls will have to push and sustain the price above £289 to signal the start of a sustained recovery.
A break and close above the downtrend line will be the first sign of a possible change in trend.
Alternatively, if the price turns down and breaks below £247, it will suggest the resumption of the downtrend. The pair could then plummet to the psychological level at £200 and later to £183.
BNB COIN – HOW TO TRADE BNB/GBP 18TH JANUARY 2022
Binance Coin bounced off the psychological support at £300 on Jan. 10 and the bulls pushed the price back above the 200-day SMA on Jan. 11. This indicated strong buying at lower levels.
However, the bears are in no mood to relent. They are posing a stiff challenge at £377. The failure to break above this resistance may have led to profit-booking by short-term traders who had purchased at lower levels.
The bears will now try to pull the price back below the 200-day SMA. If they manage to do that, the BNB/GBP pair could drop to £300. If the price rebounds off this support, the pair could consolidate between £377 and £300 for a few days.
Conversely, if the price rebounds off the 200-day SMA, the bulls will make one more attempt to clear the overhead hurdle at £377. If they manage to do that, the pair could rally to £411.50.
DECEMBER BLOGS
BNB COIN – HOW TO TRADE BNB/GBP 14TH DECEMBER 2021
When price made a double top at £494.3 on November 26 ( November 14 previously ), this pair has experienced choppy price action ever since with neither the bulls or bears taking full control. The candlesticks both above and below the 20-day EMA recently put this into perspective.
As seen on the current chart the price is currently between the 20-day EMA and also the 100-day SMA with no clear direction and in consolidation mode.
For the bulls to gain control once more we need a retest of that November 26 high of £494.3, which would possibly make a triple top in the market, with a clear daily close above that level to really get going again.
If the bears however continue to push price down there could be a decent confluence level of support and demand around the 100-day SMA and the 50.0 Fib level.
The relative strength index ( RSI ) is also mirroring the up and down motion of current price on the chart as we currently straddle the 50 mark.
BNB COIN – HOW TO TRADE BNB/GBP 7TH DECEMBER 2021
The BNB/GBP pair sold off on December 4 but the bears could not sink the price below the strong support at £377. This may have attracted strong buying from short-term traders, resulting in a sharp rebound.
The buyers are currently attempting to push the price above the 20-day EMA. If they succeed, the pair could rise to the overhead resistance. A break and close above this level could signal the resumption of the uptrend.
Therefore, we retain the buy recommendation given in the previous analysis. This positive view will invalidate if the price turns down from the current level and breaks below the £377 support. Such a move will signal the start of a deeper correction to £286.80.
NOVEMBER BLOGS
BNB COIN – HOW TO TRADE BNB/GBP 30TH NOVEMBER 2021
Binance Coin turned down from the overhead resistance at £493.20 on December 1. This could have prompted profit-booking from short-term traders, which pulled the price below the 20-day EMA.
Binance Coin broke above the 20-day EMA on November 23 and rallied to the overhead resistance at £493.20. The bulls could not push the price above this barrier on November 25 and 26, which may have prompted profit-booking.
The BNB/GBP pair plunged below the 20-day EMA on November 26 but the long tail on the day’s candlestick indicates strong buying at lower levels. The price is currently stuck between the 20-day EMA and £493.20.
If bulls drive the price above the overhead resistance, the pair could pick up momentum and start its northward march toward the next target objective at £629.
Traders could consider long positions on a break and close above £493.20 with stops placed at £425.
Contrary to this assumption, if the price turns down and plummets below the 20-day EMA, it will signal that bears are selling on rallies. The pair could then drop to £414.80 and later to £377.
BNB COIN – HOW TO TRADE BNB/GBP 23RD NOVEMBER 2021
The bulls attempted to propel Binance Coin above the overhead resistance at £493.20 but the bears were in no mood to relent. They aggressively defended the resistance prompting profit-booking from short-term traders.
The BNB/GBP pair turned down on November 15 and plunged near the strong support of £377 on November 18. The bulls purchased this dip, resulting in a strong rebound but higher levels again attracted selling.
This suggests that sentiment has turned negative and bulls may be closing their positions on rallies.
The 20-day EMA has flattened out and the RSI is near the midpoint, suggesting a few days of range-bound action. The pair could trade inside the large range between £377 and £493.20.
If bears sink the price below £377, traders may rush to the exit and the pair could drop to £320.
On the contrary, if bulls drive the price above £453, the pair could retest the stiff overhead resistance at £493.20. The bulls will have to push and sustain the price above this level to signal the resumption of the uptrend.
BNB COIN – HOW TO TRADE BNB/GBP 16TH NOVEMBER 2021
We had indicated the possibility of a drop to the 38.2% Fibonacci retracement level of £423.70 in our previous analysis and that happened on November 10. Binance Coin’s subsequent rebound also played out according to our expectations
The long tail on the November 10 candlestick indicated strong buying at lower levels. The bulls attempted to clear the overhead hurdle at £493.20 between November 13-15 but the bears did not relent.That may have attracted profit-booking from traders which has again pulled the price toward the 20-day EMA. A strong rebound off this support will suggest that sentiment remains positive and traders are accumulating on dips. That will improve the prospects of a break above the overhead resistance.If that happens, the uptrend could resume and the BNB/GBP pair could start its journey toward the next target objective at £595.20.Conversely, if bears pull the price below the 20-day EMA, the pair could drop to £421.20. A break and close below this support could intensify selling and the pair may plummet to the 61.8% Fibonacci retracement level at £383.20.
BNB COIN – HOW TO TRADE BNB/GBP 9TH NOVEMBER 2021
During strong breakouts, the price does not retrace and retest the breakout level and that is what happened in Binance Coin. The BNB/GBP pair witnessed intraday dips on November 2-4 but did not drop to the breakout level at £377.
The buying picked up momentum on November 5 and the pair reached close to the previous all-time high of £493.20 on November 7. The long wick on the day’s candlestick indicates that bears are trying to defend this level with vigour.
If bears pull the price below £461, the pair could correct to the 38.2% Fibonacci retracement level of £423.70. A strong rebound off this level will indicate that sentiment remains positive and traders are buying on dips.
The bulls will then make one more attempt to clear the overhead hurdle at £493.20. If they succeed, the uptrend could resume with the next target objective at £595.20.
This positive view will invalidate if the pair breaks below the 20-day EMA. Such a move could result in a pullback to £377.
BNB COIN – HOW TO TRADE BNB/GBP 2ND NOVEMBER 2021
Binance Coin broke below the 20-day EMA on October 27 but this proved to be a bear trap. The BNB/GBP pair reversed direction sharply on October 28 and broke above the overhead resistance at £377 on October 29.
The bears tried to pull the price back below the breakout level on October 30 and 31 but failed. This ignited a fresh round of buying on November 1, resuming the uptrend.
The pair may face resistance at £400 but if bulls do not allow the price to drop below £377, the likelihood of a rally to £438 increases. The rising 20-day EMA and the RSI near the overbought zone indicate the path of least resistance is to the upside.
Aggressive traders may consider going long on dips to £377 with stops placed below the 20-day EMA. This is a risky trade hence a position size of 50% of the usual is suggested.
A break and close below the 20-day EMA could signal a change in the short-term trend. The pair may then drop to the 50-day SMA.
OCTOBER BLOGS
BNB COIN – HOW TO TRADE BNB/GBP 26TH OCTOBER 2021
If that happens, the pair could break below the 20-day EMA and plummet to the strong support at £286.80.
On the contrary, if the price rises from the current level, the bulls will try to drive the pair above the overhead resistance. The pair could then rally to £400 and later to £438.
BNB COIN – HOW TO TRADE BNB/GBP 19TH OCTOBER 2021
The BNB/GBP pair reversed sharply from £286.80 on October 12 and rose above the moving averages.
The pair could now rally to the overhead resistance at £377 where bears may again mount a stiff resistance. The rising 20-day EMA and the RSI above 66 indicate that bulls are in control.
If bulls do not give up much ground from this resistance, the possibility of a break above £377 increases. If that happens, the pair could rally to £400 and then to £438.
On the other hand, if the price turns down from £377 and breaks below the 20-day EMA, the pair could again drop to £286.80.
BNB COIN – HOW TO TRADE BNB/GBP 12TH OCTOBER 2021
The bulls could not sustain Binance Coin above the 50-day simple moving average (SMA), indicating a lack of demand at higher levels. This could have prompted short-term traders to book profits. The BNB/GBP pair broke and closed below the 20-day EMA on October 10.
Although bulls pushed the price back above the 20-day EMA on October 11, the long wick on the day’s candlestick suggests that bears are not willing to let go of their advantage.
If bears pull the price below the £292 to £284 support zone, the selling could intensify and the pair may drop to £240. The flattish 20-day EMA and the RSI near the midpoint suggest a balance between supply and demand.
This equilibrium will shift in favour of the bulls if they can thrust the price above £326.60. If they do that, the pair could rise to the stiff overhead resistance zone of £366.3 to £377.
BNB COIN – HOW TO TRADE BNB/GBP 5TH OCTOBER 2021
BNB price gbp recovered above the 100-day SMA on September 29 and followed that up with a move above the 20-day EMA on September 30. This was the first indication that the selling pressure may be reducing. Sustained buying pushed the price above the £305.40 overhead hurdle on October 1. The bulls have been sustaining the price above this level for the past few days, which is a positive sign.
The 20-day EMA has turned up and the RSI has jumped into the positive zone, indicating that buyers have the upper hand. If bulls drive the price above £325, the BNB/GBP pair could start its march toward the stiff overhead resistance at £377.
Contrary to this assumption, if bears pull the price back below the 20-day EMA, the pair could drop to the 50-day SMA. Such a move could delay the resumption of the uptrend.
SEPTEMBER BLOGS
BNB COIN – HOW TO TRADE BNB/GBP 28TH SEPTEMBER 2021
BNB price GBP pair dropped to £238.30, just below our target of £240 projected in the previous analysis. The BNB/GBP pair has been trading below the 100-day SMA for the past three days, indicating a lack of demand even at these levels. The bulls attempted to push the price above the 100-day SMA on September 27 but failed.
The downsloping 20-day EMA and the RSI below 37 suggest that bears are in control.
If the pair breaks below £238.30, the selling could intensify further and the next stop could be the psychological level at £200. The first sign of strength will be a break and close above the 20-day EMA. That will suggest the selling has dried up and the bulls will then try to push the price above £305.40.
BNB COIN – HOW TO TRADE BNB/GBP 21ST SEPTEMBER 2021
Binance Coin rose to the 20-day EMA on September 15 but the bears were in no mood to relent. They aggressively defended the overhead resistance and pulled the BNB/GBP pair below the 50-day SMA on September 17. The bulls tried to reclaim the level on September 18 and 19 but could not sustain the price above the 50-day SMA. This could have attracted further selling and the pair broke below the September 7 intraday low of £268.10.
The long tail on today’s candlestick suggests that bulls are attempting a relief rally. If bears do not give up much ground, the pair could resume its down move and plunge to the next support at £240. The moving averages have completed a bearish crossover and the RSI is in the negative territory, indicating that bears are in command. A breakout and close above £320 will indicate that the correction may be over.
BNB COIN – HOW TO TRADE BNB/GBP 14TH SEPTEMBER 2021
Binance Coin turned down and broke below the moving averages on September 7. The long tail on the day’s candlestick suggests that bulls purchased this dip. However, buyers could not push the price above the 20-day EMA during the subsequent recovery.
This suggests that traders sold on rallies to the 20-day EMA. If bears sink the price below £268.1, the BNB/GBP pair could extend its decline to the next support at £240. The downsloping 20-day EMA and the RSI below 43 suggest bears are in command. Contrary to this assumption, if the price rebounds off the current level, the bulls will make one more attempt to push the pair above the 20-day EMA. If they can sustain the higher levels, the pair will try to rise to the overhead resistance at £377. A breakout and close above this level will signal the start of the next leg of the up-move.
BNB COIN – HOW TO TRADE BNB/GBP 7TH SEPTEMBER 2021
Binance Coin bounced off the 20-day EMA on August 31 but the bulls have not been able to drive the price above the overhead resistance at £377. This suggests that buying dries up at higher levels. The BNB/GBP pair could now drop to the 20-day EMA. A break below this support could pull the price down to the breakout level of £305.40. If this support holds, the pair could consolidate between £305.40 and £377 for a few days. https://youtu.be/jib_gBN3fQE
Conversely, if the price rebounds off the 20-day EMA, the bulls will try to propel the pair above £377. If they succeed, it will indicate the start of the next leg of the uptrend. The pair could then rally to £400 and later to £475. But if the price slips below £305.40, it will indicate that bulls are losing their grip. The pair may then drop to the 50-day SMA.
AUGUST BLOGS
BNB COIN – HOW TO TRADE BNB/GBP 31ST AUGUST 2021
In our previous analysis, we had recommended traders book profits on 75% of the open positions and that proved to be the right call. Although Binance Coin rose to £377 on August 26, the bulls could not sustain the higher levels. The buyers again attempted to resume the up-move on August 28 but hit a wall at £360.80. This has pulled the price back toward the 20-day EMA https://youtu.be/P60XSY1CJmM
A strong rebound off the 20-day EMA will suggest that the sentiment remains positive and traders are accumulating on dips. The buyers will then make one more attempt to push the price to £400 and then to £475. On the other hand, if bears sink the price below the 20-day EMA, the BNB/GBP pair could challenge the breakout level of £305.4. A strong rebound off this level could keep the pair range-bound for a few more days but if the level cracks, the decline may extend to the 50-day SMA.
BNB COIN – HOW TO TRADE BNB/GBP 24TH AUGUST 2021
BNB price GBP has risen sharply in the past few days, netting a handsome profit to traders who had bought on our earlier recommendation. The bears tried to stall the up-move at the overhead resistance at £305.44 on August 17 but the bulls did not allow the price to dip below the 20-day EMA. The buyers pushed the price above the overhead resistance on August 20, indicating the start of a new uptrend. https://youtu.be/vIXqDciCZAM
The sharp up-move of the past few days has pushed the RSI above 80, indicating that the rally is overextended in the short term. This could result in a few days of correction or consolidation. Therefore, traders can book profits on 75% of the open positions and trail the stops on the rest to $325. If bulls drive the price above £369.12, the gbp to bnb pair may rally to £400 and then to £475. However, we give this a low probability of occurring. On the downside, a break and close below £305.44 will suggest weakness.
BNB COIN – HOW TO TRADE BNB/GBP 10TH AUGUST 2021
Binance Coin broke and closed above the overhead resistance of £236 on August 6 which triggered the buy recommendation given in the previous analysis. However, the bulls are struggling to build on the breakout as bears are trying to pull the price back below £236. https://youtu.be/VI0Hojr-qgI
If the price rebounds off £236 and rises above £255.22, the BNB/GBP pair could start its journey toward the overhead resistance at £305.44. If the price turns down from this level, the pair could extend its stay inside the range between £305.44 and £160 for a few days. The bulls will have to push and sustain the price above £305.44 to signal the start of a new uptrend. Traders can continue to hold their stops at £210 for now but trail it higher as the price moves above £255.22. A break and close below the 50-day SMA will indicate that the bullish momentum has weakened. The pair could then drop to the next support at £160.
BNB COIN – HOW TO TRADE BNB/GBP 3RD AUGUST 2021
bnb price gbp has been trading close to the overhead resistance of £236 for the past few days. This suggests that bears are defending this level but the bulls are not giving up. https://youtu.be/XT6tJjUy7gw
The relative strength index (RSI) has risen into the positive zone and the moving averages have complete
JULY BLOGS
BNB COIN – HOW TO TRADE BNB/GBP 27TH JULY 2021
Both moving averages are flat and the RSI is just below the midpoint, indicating a balance between supply and demand. The advantage could tilt in favour of the bulls if they can sustain the BNB price GBP price above £236.
That could result in a rally to £269.22 and then to the overhead resistance at £305.44 where the bears may again pose a stiff challenge.
Contrary to this assumption, if the BNB price GBP price turns down and breaks below the downtrend line, the BNB/GBP pair could drop to £183. A break below this support could lead to a retest of the critical support at £160. A short-term buying opportunity may arise if the pair closes above £236.
BNB Coin – HOW TO TRADE BNB/GBP 20TH JULY 2021
BNB price GBP we had highlighted in our previous analysis that if bulls fail to push the price above the 50-day SMA soon, short-term traders may dump their positions and that is what happened.
BNB price GBP turned down on July 19 and has started its journey toward critical support at £160. The bears have not been able to pull and sustain the price below this support since March 1, hence the bulls are likely to defend it aggressively.
If bulls fail to push the BNB price GBP above the downtrend line, the bears will fancy their chances. A break and close below £160 will complete a bearish descending triangle pattern.
That could clear the path for a further decline to the psychological support at £100 and then to £80. This negative view will invalidate if the bulls push and sustain the BNB/GBP pair above the 50-day SMA.
BNB Coin – HOW TO TRADE BNB/GBP 13TH JULY 2021
BNB price GBP continues to trade near the 20-day EMA. This is a positive sign as it indicates that bulls are not closing their positions because they anticipate a move higher.
The 20-day EMA is gradually sloping down and the RSI is above 46, indicating a minor advantage to the bears.
However, if bulls drive the price above the moving averages, it will open the doors for an up-move to £269.22. If bulls push the BNB price GBP above this level, the BNB/GBP pair could reach £305.44.
On the contrary, if the price fails to rise above the 20-day EMA within the next few days, short-term traders may close their positions. That could pull the price down to £191.21. If this level also cracks, the decline may extend to the critical support at £160.
BNB price GBP – HOW TO TRADE BNB/GBP 6TH JULY 2021
BNB Coin has been trading close to the 20-day EMA for the past few days. Though the bulls have not been able to push the price above it, they have not allowed the altcoin to correct.
When the price clings to a resistance, the possibility of a breakout from it increases. If bulls can push the price above the moving averages, the BNB/GBP could pick up momentum and rally to £305.44. The bears will again pose a stiff challenge at this level.
Contrary to this assumption, if BNB bulls fail to sustain the price above the 20-day EMA or if the BNB price turns down from the 50-day SMA, it will suggest that bears continue to sell on rallies.
A break below £191.21 could attract further selling, resulting in a retest of £160. This is an important support to watch out for because a break below it could resume the downtrend with the next stop at £120.
JUNE BLOGS
BNB price GBP – HOW TO TRADE BNB/GBP 29TH JUNE 2021
Binance Coin bounced off the £160 support on June 22, indicating that buyers are accumulating on dips. The bulls will now try to push the price above the 20-day EMA.
If they manage to sustain the price above this resistance, the BNB/GBP pair could rise to the 50-day SMA and then to £305.44. This level is likely to act as a stiff resistance.
If the pair turns down from this level, the range-bound action is likely to continue for a few more days.
However, the moving averages are sloping down and the RSI is in the negative territory, indicating advantage to the bears.
If the price turns down from the 20-day EMA, the bears will try to pull the pair below the £160 support. If they succeed, the decline could extend to £120. As the trend remains bearish, we are not recommending a trade in it.
BNB price GBP – HOW TO TRADE BNB/GBP 22ND JUNE 2021
The BNB coin bulls have not been able to push BNB above the 20-day EMA in the past few days, which suggests the bears are defending this resistance aggressively.
The bears broke the £225 support on June 21, which has opened the gates for a retest of the critical support at £160. Both moving averages are sloping down and the RSI is in the negative zone, suggesting advantage to the bulls.
If the £160 support cracks, the selling could pick up further and the BNB pound pair could slide to £91.69.
Contrary to this assumption, if the BNB pound price turns up from the current level and rises above the 20-day EMA, it will suggest accumulation at lower levels. A breakout of the 20-day EMA can propel the price to the 50-day SMA.
We do not find any reliable buy setup at the current level, hence we are not recommending a trade in it.
BNB price GBP – HOW TO TRADE BNB/GBP 15TH JUNE 2021
The BNB Coin rebounded off £225.92 on June 8 as the bulls are attempting to form higher lows. However, the relief rally is facing stiff resistance at the 20-day EMA, indicating the bears have not thrown in the towel yet.
The downsloping 20-day EMA and the RSI just below the midpoint suggest the bears have a slight advantage.
The price turns down from the 20-day EMA, the bears will make one more attempt to pull the BNB coin price down to £200 and then to £160. If they succeed, it will suggest a lack of demand at higher levels. Alternatively, if the bulls drive the price above the 20-day EMA, the BNB/GBP pair could start its journey toward the 50-day SMA. The bears are likely to mount a stiff resistance at this level. We do not find any reliable buy setup at the current level, hence we are not recommending a trade in it.
BNB price GBP – HOW TO TRADE BNB/GBP 8TH JUNE 2021
BNB Coin rose above £282 on June 2, triggering our buy suggested in the previous analysis. However, the up-move stalled at £305.44 on June 3 and the BNB coin price turned down. Traders who kept a close stop-loss could have gotten out of the trade at breakeven or with a minor loss.
The BNB coin price turned down from the 20-day EMA on June 7 and the BNB/GBP pair could now drop to the next support at £200. If this support also cracks, the decline could extend to the critical support zone at £160 to £150.74. The 20-day EMA has turned down once again and the RSI has dipped below 42, indicating the bears are on top. This negative view will invalidate if the price turns up and breaks above £305.44. We will wait for the formation of a higher bottom before recommending a fresh trade in it.
BNB price GBP – HOW TO TRADE BNB/GBP 8TH JUNE 2021
BNB Coin rose above £282 on June 2, triggering our buy suggested in the previous analysis. However, the up-move stalled at £305.44 on June 3 and the BNB coin price turned down. Traders who kept a close stop-loss could have gotten out of the trade at breakeven or with a minor loss.
The BNB coin price turned down from the 20-day EMA on June 7 and the BNB/GBP pair could now drop to the next support at £200. If this support also cracks, the decline could extend to the critical support zone at £160 to £150.74. The 20-day EMA has turned down once again and the RSI has dipped below 42, indicating the bears are on top. This negative view will invalidate if the price turns up and breaks above £305.44. We will wait for the formation of a higher bottom before recommending a fresh trade in it.
MAY BLOGS
BNB Coin – HOW TO TRADE BNB/GBP 25TH MAY 2021
BNB coin we had projected a bearish picture in our previous analysis and the fall exceeded our target objective. This is a usual feature during downtrends where targets are exceeded as traders dump their positions due to panic. The moving averages have completed a bearish crossover and the RSI is in the negative territory, indicating advantage to the bears. The current pullback is likely to face stiff resistance at £302.79.
The downsloping 20-day EMA and the RSI in the negative territory suggest the bears have the upper hand. If the BNB coin turns down from the 20-day EMA and breaks below the neckline, the BNB/GBP pair will complete a bearish head and shoulders pattern. This setup has a target objective at $178.4. This negative view will invalidate if the bulls push the BNB price GBP price above £438. Such a move could open the doors for a retest of the all-time high at £493.20. As the price is below both moving averages, we suggest traders remain on the sidelines.
BNB Coin – HOW TO TRADE BNB/GBP 18TH MAY 2021
BNB coin broke below the 20-day EMA on May 12, indicating profit-booking at higher levels. The bulls attempted to push the BNB/GBP price back above the 20-day EMA on May 14 but failed. That resulted in further selling, dragging the price below the 50-day SMA on May 17. The bulls are currently trying to push the price back above the 50-day SMA. If they succeed, the BNB/GBP pair could rally to the 20-day EMA.
The downsloping 20-day EMA and the RSI in the negative territory suggest the bears have the upper hand. If the price turns down from the 20-day EMA and breaks below the neckline, the BNB/GBP pair will complete a bearish head and shoulders pattern. This setup has a target objective at $178.4. This negative view will invalidate if the bulls push the price above £438. Such a move could open the doors for a retest of the all-time high at £493.20. As the price is below both moving averages, we suggest traders remain on the sidelines.
BNB coin – HOW TO TRADE BNB/GBP 11TH MAY 2021
BNB coin dip on May 10 could have triggered the stop-loss, which was suggested to be kept at break-even in our previous analysis. Usually, when an asset struggles to continue higher after making a new all-time high, it is a sign of exhaustion. The bulls are attempting to defend the 20-day EMA. If they succeed, the BNB pound pair may remain range-bound between the 20-day EMA and £493.20 for a few days.
breakout and close above £500 could start the next leg of the up-move that may reach £614.15. However, the flattening 20-day EMA and the negative divergence on the RSI indicate the momentum may be weakening. A break below the 20-day EMA could result in long liquidation from the short-term traders. That may pull the bnb pound down to the 50-day SMA and then to £320. Traders may remain on the sidelines and wait for the correction to end before buying again.
BNB coin – HOW TO TRADE BNB/GBP 4TH MAY 2021
BNB coin broke above the downtrend line on April 29, which triggered the buy recommendation given in the previous analysis. After hesitating near the all-time high at £465.76 on May 1 and 2, the BNB/GBP pair made a strong move higher on May 3. However, the bulls are struggling to hold on to the higher levels. If the bears sustain the price below £465.76, several aggressive bulls may get trapped, resulting in a long liquidation.
That could pull the BNB poound chart down to the 20-day EMA. Therefore, traders could keep their stop-loss at breakeven. A strong rebound off the 20-day EMA will suggest that traders continue to buy at lower levels. The bulls will then make one more attempt to push the BNB poound chart above the all-time high at £490.65 and resume the uptrend. If they succeed, the pair may rally to £614.15. On the contrary, if the bears sink the price below the 20-day EMA, the pair could drop to the 50-day SMA.
APRIL BLOGS
BNB COIN – HOW TO TRADE BNB/GBP 27TH APRIL 2021
BNB coin bulls are buying Binance Coin at the 20-day EMA but the bears are offering a stiff resistance above £425. The price is currently sandwiched between the downtrend line and the 20-day EMA. Both moving averages are sloping up and the RSI is above 58, suggesting the bulls have the upper hand. If the buyers can push and sustain the price above the downtrend line, the BNB/GBP pair could retest the all-time high at £465.76.
breakout of this resistance could start the next leg of the uptrend that could reach £614.15. Contrary to this assumption, if the bears sink the BNB price GBP below the 20-day EMA and the £318.39 support, the selling could intensify and the pair may start a deeper correction toward the 50-day SMA. As the momentum seems to be weakening, we will not recommend any positional trades. The short-term traders may consider buying if the price breaks and closes above the downtrend line. As this is a risky trade, a close stop-loss can be kept and the position size may be reduced to 50% of the usual.
BNB Coin – HOW TO TRADE BNB/GBP 20TH APRIL 2021
BNB coin trade levels were bang on target as well. Last week, we had told traders to not get greedy and book profits on 80% of the positions when the price was about £420. The price only continued lower from there and has reached the 20-day EMA. The BNB/GBP pair attempted to bounce off the 20-day EMA on April 19 but the long wick on the day’s candlestick shows traders sold on rallies. This suggests the sentiment has turned negative.
the bears sink the BNB price GBP below the 20-day EMA, the selling could intensify and the pair could drop to £300 and then to the 50-day SMA. Such a deep correction will delay the next leg of the uptrend. Contrary to this assumption, if the price once again rebounds off the current level and rises above £400, it will suggest sustained buying by the bulls at lower levels. That could result in a retest of the all-time high at £465.761. Though the chart structure looks positive, we are not suggesting any trade in it because the overall sentiment remains weak.
BNB coin – HOW TO TRADE BNB/GBP 13TH APRIL 2021
BNB coin has more than doubled in price since our recommendation to buy following a breakout above the triangle. Although the target objective was £326, the momentum blew past this and reached an intraday high at £465.761 on April 12. Traders should now not get greedy and close 80% of their positions at the current levels. They can keep a small position open with a trailing stop-loss to pocket any further gains.
The sharp rally of the past few days has pushed the RSI above 80, indicating the Binance price GBP is overbought in the near term. Therefore, we anticipate the pair to enter a minor correction or consolidation. Generally, the corrections in a strong uptrend last anywhere between one to three days. However, if the rally fails to resume within three days, it will suggest the momentum may be weakening. The major support on the downside is the 20-day EMA. A strong bounce off this level will suggest the sentiment remains positive and the bulls are buying on dips. However, a break below the 20-day EMA will indicate a change in trend.
BNB COIN – HOW TO TRADE BNB/GBP 6TH APRIL 2021
BNB coin soared above the resistance line of the symmetrical triangle on March 30 and this triggered the buy recommendation given in the previous analysis. Traders who acted on the suggestion are sitting on some quick profits. The BNB/GBP pair picked up momentum after breaking out of the triangle and climbed above the all-time high at £249 on April 2.
The bears tried to trap the bulls and start a sell-off on April 3 but failed. This resulted in renewed buying, pushing the BNB price GBP to a new all-time high today. The upsloping moving averages and the RSI in the overbought territory indicate the bulls are in the driver’s seat. The next target objective to watch on the upside is £326, which is the pattern target from the breakout of the triangle. This bullish view will invalidate if the BNB price GBP reverses direction and plummets below the 20-day EMA. Such a move will suggest aggressive profit-booking at higher levels. Traders who are long can trail their stops higher to protect their paper profits.
MARCH BLOGS
BNB COIN – HOW TO TRADE BNB/GBP 30TH MARCH 2021
BNB coin break below the 20-day EMA on March 25 was purchased aggressively, indicating strong demand at lower levels. Binance Coin has formed a symmetrical triangle pattern. If the bulls can push the price above the triangle and sustain the breakout, the BNB price GBP pair could rally to the all-time high at £249 and then to the pattern target at £326.
The marginally rising 20-day EMA and the RSI above 58 indicate a slight advantage to the bulls. Traders may consider initiating long positions on a close above the triangle with the initial stops placed below the support line of the triangle. Contrary to this assumption, if the BNB price GBP turns down from the resistance line of the triangle, the pair may consolidate inside the triangle for a few more days. The trend will turn in favour of the bears if they can sink the price below the triangle. In such a case, a drop to £130 is possible.
BNB Coin – HOW TO TRADE BNB/GBP 23RD MARCH 2021
BNB coin bulls are defending the 20-day EMA while the bears are mounting a stiff resistance at £200. This has resulted in a tight range trading in Binance Coin. The flat 20-day EMA and the RSI just above the midpoint suggest a balance between supply and demand. Generally, such tight ranges lead to a trending move.
In this case, if the bears sink the BNB price GBP below the 20-day EMA, the BNB/GBP pair could start its decline to £156 and if that level also cracks, the next critical support is £130. Contrary to this assumption, if the price turns up from the current levels and rises above £200, the bulls will try to push the price to £226.44 and then challenge the all-time high at £249. Short-term traders may attempt a trade if the price breaks and closes above £200. The stop-loss for the trade can be kept just below the 20-day EMA.
BNB Coin – HOW TO TRADE BNB/GBP 16TH MARCH 2021
BNB price GBP broke above the symmetrical triangle and soared above the £200 overhead resistance on March 9. The bulls attempted to resume the uptrend on March 11 but they could not sustain the higher levels, as seen from the long wick on the day’s candlestick. This could have attracted profit-booking from short-term traders and that pulled the price back below the £200 support on March 12. The attempt by the bulls to push the price back above £200 failed on March 13.
The BNB price GBP pair continues to witness profit-booking and has now dropped to the strong support at the 20-day EMA. A strong bounce off it will signal strength, but if the bears sink the pair below it, a drop to £130 may be on the cards. The flat 20-day EMA and the RSI near the midpoint suggest a range-bound action for the next few days. Trading can be random and volatile inside a range, hence traders could remain on the sidelines until clarity emerges.
BNB coin – HOW TO TRADE BNB/GBP 9TH MARCH 2021
The BNB Price GBP bulls have successfully defended the 20-day EMA for the past few days, which suggests traders continue to buy on dips. The upsloping moving averages and the RSI in the positive territory suggest advantage to the bulls. The BNB/GBP pair has formed a symmetrical triangle. If the buyers can propel the price above the triangle, the pair may rally to £200 and then to the pattern target at £250.
However, if the BNB Price GBP turns down from £200, the pair may again drop to the 20-day EMA. If the bulls defend the level, the pair will again try to rise above £200. Contrary to this assumption, if the BNB Price GBP turns down from the current level and breaks below the triangle, the pair could drop to £130 and then to the 50-day SMA. Generally, a sharp rally is followed by a period of consolidation before the next trending move starts. We will wait for the price to break out and sustain above £200 or wait for it to dip to £130 before proposing a trade as that gives a good risk to reward ratio to traders
BNB Coin – HOW TO TRADE BNB/GBP 2ND MARCH 2021
BNB Price GBP in our last weeks assumption turned out to be correct as the altcoin dropped to the 20-day EMA on February 28 as we had highlighted in the previous analysis. Both moving averages are sloping up and the RSI is above 61, which suggests that bulls are in control. If they can build on the March 1 rebound and propel the price above £200, the BNB/GBP pair may again rally to the all-time high at £249.
On the other hand, if the price turns down from the current levels or the overhead resistance, the pair may remain range-bound for a few days. The trend will favor the bears if the price can break the £130 support. Although the trend is bullish, strong rallies are usually followed by a period of consolidation. We anticipate the pair to trade in a range for a few days before starting the next trending move. Therefore, we are not proposing a trade in it.
FEBRUARY BLOGS
BNB PRICE GBP – HOW TO TRADE BNB/GBP 23RD FEBRUARY 2021
BNB price GBP Traders who purchased Binance Coin on our recommendation in the previous analysis could have made a huge profit. Though the all-time high at £249 on February 19 exceeded our expectations, we are not complaining. The sharp rally propelled the RSI above 94, which shows an extremely overbought condition. That attracted profit booking on February 20. The aggressive bulls tried to resume the uptrend on February 21 but failed as higher levels again attracted profit-booking.
The bulls have been defending the £156.648 level for the past few days but repeated retest of a support level tends to weaken it. If the bears sink the price below £156.648, the BNB price GBP pair could drop to the 20-day EMA. This is an important support to keep an eye on because a break below it could intensify the selling and pull the BNB price GBP down to £91.686. A vertical rally usually ends in a waterfall decline. Therefore, we suggest traders remain on the sidelines and wait for the correction to end before initiating any long positions.
BNB PRICE GBP – HOW TO TRADE BNB/GBP 16TH FEBRUARY 2021
BNB price GBP is currently consolidating between £85 and £102.60 for the past few days. When the price does not correct in a strong uptrend, it shows that traders expect the rally to continue further. If the bulls can push the price above £102.60, a retest of the all-time high at £107.728 is possible. A breakout of this level will resume the uptrend. The immediate target objective is £120.2 and if that level is crossed, the uptrend could reach £150.
Contrary to this assumption, if the Binance price GBP turns down and breaks below £85, it may correct to the 38.2% Fibonacci retracement level at £77.658, and if this level also cracks, the next support is at the 20-day EMA. A trading opportunity could open if the Binance price GBP sustains above £107.728 for a few hours. For this trade to be successful, the price should breakout and surge higher without any hesitation. As the risk is high, traders could choose to pass this trade or attempt it with a 50% position size of the normal.
HOW TO TRADE BNB/GBP
The BNB price GBP is of the markets most widely traded pairs. Binance is currently the world’s largest cryptocurrency exchange, with around $26,721,795,985 in assets traded in an average 24 hours period. Binance’s rise to the top has been swift. Since its launch in July of 2017, Binance has grown at a rapid rate.
THE BINANCE COIN (BNB)
BNB is an ERC20 token built on Ethereum. The total supply is limited to 200 million BNB, after which no more coins will be created. BNB was created by Binance in 2017 as its utility token for discounted trading fees. BNB has since become the native token of the main Binance Chain blockchain. BNB can also be used to pay for travel expenses (such as hotels and flights booking), to buy virtual gifts, to shop using a credit card, and more. What additional utility does BNB have Store/Hold BNB Many traders and investors store their BNB with the mindset of the Token increasing in value over time. You can store your BNB safely on your Binance account or on a 3rd party cold storage device that supports the BNB token. Trade BNB You can trade BNB for 150+ cryptocurrencies on Binance’s industry-leading, fast, and secure trading platform. Binance offers several trading pairs for BNB to meet your needs. Send BNB Payments for products and services all over the world, the token can be sent to an appropriate destination very fast with block confirmation making 1 second to complete. Spend BNB Aside from using BNB for your trading fees on Binance, you can also use BNB in more than 100 ways, most of which for buying anything from meals to houses. Staking and passive income On the Binance cryptocurrency exchange, it is possible to utilise the BNB token to earn staking rewards on their launchpad. It’s very easy to utilise the launch pool to stake, earn and passively generate income
HOW TO TRADE BNB PRICE GBP
BNB price GBP, despite maturing since its launch in 2017, is regarded as a highly volatile cryptocurrency. The number of whales holding between 10,000 and 100,000 BNB coins ($1,300,000 and $13,000,000) has increased by 10 in the past week. Similarly, smaller holders with 1,000 to 10,000 BNB have also been joining the network in the past week from 656 on February 3 to 667 currently. It is interesting to realize that as Binance Coin’s value soars, some whales are offloading. This shows that all of the Binance Coin holders are perhaps in profit, and therefore, it makes sense to sell.
GBP AND BNB – MAIN DIFFERENCES
Many factors drive crypto’s price direction, and they are much different from those that influence fiat currencies like GBP. Traders looking to trade BNB Price GBP currency must understand these differences and factors to trade profitably. Even though it differs (in nature) from Bitcoin and Etherereum pricing direction, like any other cryptocurrency, is directly correlated to Bitcoin. Another thing that must be kept in mind is that all digital currencies, including that of Bitcoin, are mostly influenced by increased public sentiment related to the adoption of digital currencies in the future. Thus, news about developments that further impact cryptocurrencies’ traction drives the prices of cryptocurrencies, upwards. Especially in the case of BNB, the growing number of Binance exchange users getting exposure to the exchange is a major driving force behind the adoption of BNB. More recently the Launchpad and the DEFi solutions surround the blockchain have been seen to improve and increase the utility of the token, that correlating the high gas Fees on Ethereum the DEFi space has been a very nice and positive addition to the BNB token and overall ecosystem.
Hopefully, you have enjoyed today’s article. Thanks for reading! Have a fantastic day! Live from the Platinum Crypto Trading Floor.
Earnings Disclaimer: The information you’ll find in this article is for educational purpose only. We make no promise or guarantee of income or earnings. You have to do some work, use your best judgement and perform due diligence before using the information in this article. Your success is still up to you. Nothing in this article is intended to be professional, legal, financial and/or accounting advice. Always seek competent advice from professionals in these matters. If you break the city or other local laws, we will n
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