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Binance (BNB/BTC) Technical Analysis for 02/14/2018 – Upside

  • Published on: Feb 13, 2018 - 11:30 PM
  • Source: Live Bitcoin News

Binance (BNB/BTC) Technical Analysis for 02/14/2018 – UpsideBinance is still trending lower on its 4-hour time frame and is testing the descending channel resistance. A bounce off this level could take it back down to support at 0.0008. The 100 SMA is below the longer-term 200 SMA to confirm that the path of least resistance is to the downside. This suggests that the selloff is more likely to resume than to reverse. The gap is also sufficiently wide to keep sellers in control for a while. However, stochastic is indicating oversold conditions and is turning higher to signal a return in bullish momentum. RSI, on the other hand, is moving south so price c …

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