Daily Update Binance Coin (BNB)

A couple days ago I talked about a breakout for the Binance Coin, BNB. Since that breakout it has made a complete reversal pattern.

Looking at the 1 hour chart, you can see the breakout and consolidation pattern and now we are looking at a significant downward move. If you look at the 2 hour chart I added a couple trendlines to show what I see BNB doing.

As you can see after that break to the downside it has broken through the major uptrend line. Now I am expecting to see a consolidation pattern and pull back toward the downward trend line and then another major downward impulse move to retest the lowest trendline.

Here is a better visual of what I am expecting to see out of BNB for what looks like the remainder of the month of April.

Let me know your thoughts and if you agree or disagree with my analysis. If you have any questions or comments leave them below and I will try my best to get back to you in a good time. As always have a great day and an even better one trading.

Previous Post:
https://steemit.com/steem/@ricjames/breakout-pick-binance-coin-bnb

Other Posts:
https://steemit.com/steem/@ricjames/64vn2m-daily-update-s-and-p-500