Binance Coin (BNBBTC) now has a beautiful bullish chart to start off 2020 with a Boom!
I am looking at multiple signals, way too many, and all of them are telling me the same... Let's take a look:
We have a wave that peaked on the 13-Nov. and hit a low on the 23-Dec. The low hit is the same as back in late September (yellow circles).
After this low was hit the bounce pushed prices above EMA10 and bull/green volume started to increase.
We have a broken downtrend line (black dotted).
The RSI/STOCH hit oversold and is curving up and gaining momentum.
Bullish divergence with the MACD. All these are bullish signals.
The signals are not really that important as prices can still go down and move lower just as they can move higher, what is really important is where the candles close... If BNBBTC remains above the last low, 0.0018010, consolidation can happen until the next bullish move. If this low is broken we can expect lower prices, it is that simple.
My view Binance Coin is good to go. Looks pretty good, this is a very solid altcoin and can be bought not only for short/mid-term profits but also long-term.