Binance Coin buy opportunity (BNB)

in #trading6 years ago

Binance Coin (BNB) is expected to rally until the end of October because of the coin burn that Binance Exchange does every quarter.

You can read more about the coin burn here:
https://ambcrypto.com/binance-coin-bnb-all-need-know-upcoming-coin-burn/

BNB/BTC was in consolidation for the past 1.5 months and finally broke out of that range this Tuesday. I believe big players were accumulating large amounts of BNB around these prices (0.0015) and are now finally ready to push price up before the coin burn happens later this month.

Price is currently at the resistance area around 0.0016 but I expect it to continue further up, probably towards the all-time high. Further resistance comes at around 0.0018 and if price breaks that I don't see anything stopping it from reaching the all-time high.

Good Luck

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