Quote from: Lawrenzoo on August 23, 2019, 01:37:37 PM

Quote from: Whaleagent on August 20, 2019, 09:23:35 PM

https://whaleagent.club/bnb-inches-away-from-a-weekly-break-out/

[im g]https://i.gyazo.com/ba3309c4bc5c463febfebd82124f87f0.png[/img]

Binance Coin (BNB) has been in a weekly equilibrium pattern for the last 2 months and the pattern is getting really tight with a range of around only $4 now. BNB is currently trading at $28.11 and the bulls were just rejected from the daily EMAs.

The bears seem to have taken control back on the daily chart. The weekly chart as mentioned is in a tight pattern, currently a bit more in favor of the bears, however, the long term should be favoring the bulls. Its really hard to predict in which direction the price will break. What we know for sure is that when it does, it will be a huge break and will determine the direction of BNB for the rest of the year.

The 4-hour chart bull flag was rejected and bears saw a good amount of continuation, however, the EMAs are still crossed bullish and the bulls did buy the dip and are currently trying to trade above the EMAs. The RSI is pretty much in the middle.

Except bitcoin break forte before you can see binance crossing that line of having anither increase to its value, same as other altcoins also.

I understand your point, but if you carefully take full study of binance actions, you will agree with me that Binance coin does not have to rely on bitcoin before it can grown in price because they have already establish lots of real use case projects that even when bitcoin his going down, the demand for those projects will always push the price of binance up a little bit, although bitcoin really do play a very big role in the price of those altcoins that we see in the market, but binance coin is a little bit exceptional.

People trade on binance exchange a lot, and most of their products is also tied to their coin, which means before you can have access to those products, you should be able to make use of their coin, and as they are doing so, their coin keeps becoming more popular.