As something new, we are going to start spotlighting different traders and their methods, outlooks and predictions. One of the more popular Steemit cryptocurrency traders Haejin recently reviewed the Binance Coin (BNB) and predicted the token to rise near the specific $25.83 mark by the start of May.
Binance (BNB) Coin Predictions:
While Haejin might have 29,140 followers and over 9200 posts on his account, the futuristic outlook of Binance's internal cryptocurrency exchange coin would put it at all time high levels. He is well known and respected, and is a trader who doesn't want to rely on news and emotion but rather specific patterns and unique positioning within charts and graphs.
Let's paraphrase the brief commentary left along with images supporting what patterns he predicts in the coming days and weeks. Here his image shows the BNB coin is going through a symmetrical triangle pattern, prior expanding a ABC wave that led a few sideway action months but is now being coiled back into a symmetrical pattern. Which direction will it breakout in?
He added the Moving Average Convergence Divergence (MACD) has a look of favoring an upside move, going through the upper triangle trend line with regularity and support.
He concludes by saying the graph below reveals a bullish ascending right triangle pattern, volume confirming a gradual decline and using this pattern the minimum run up would be the $25.83 or even higher with enough momentum.
If you read this and were a Binance user (the world's biggest exchange based on volume), would you stock up on BNB coin and stash a few tokens away incase it goes on a run? As it stands today, April 21 the Binance cryptocurrency token is priced at $13.05 and has a market cap of near 1.5 billion.
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We already think Bitcoin (BTC and BCH) are about to experience a second boom in the coming weeks. Give us your thoughts if you would like us to do this more often and analyze specific coins and traders to help give advantages along the way.