The BNB Coin rebounded off £225.92 on June 8 as the bulls are attempting to form higher lows. However, the relief rally is facing stiff resistance at the 20-day EMA, indicating the bears have not thrown in the towel yet.

The downsloping 20-day EMA and the RSI just below the midpoint suggest the bears have a slight advantage.

Bitcoin Price GBP_Main

BNB TO GBP

BNB Coin – HOW TO TRADE BNB/GBP 8TH JUNE 2021 - UPDATED CONTENT

BNB Coin – BINANCE TRADING bnb/gbp

BNB

If the price turns down from the 20-day EMA, the bears will make one more attempt to pull the BNB coin price down to £200 and then to £160. If they succeed, it will suggest a lack of demand at higher levels.

Alternatively, if the bulls drive the price above the 20-day EMA, the BNB/GBP pair could start its journey toward the 50-day SMA. The bears are likely to mount a stiff resistance at this level.

We do not find any reliable buy setup at the current level, hence we are not recommending a trade in it.

BNB Coin – HOW TO TRADE BNB/GBP 8TH JUNE 2021

 

BNB Coin rose above £282 on June 2, triggering our buy suggested in the previous analysis. However, the up-move stalled at £305.44 on June 3 and the BNB coin price turned down.

Traders who kept a close stop-loss could have gotten out of the trade at breakeven or with a minor loss.

BNB Coin – BINANCE TRADING bnb/gbp

BNB

The BNB coin price turned down from the 20-day EMA on June 7 and the BNB/GBP pair could now drop to the next support at £200. If this support also cracks, the decline could extend to the critical support zone at £160 to £150.74.

The 20-day EMA has turned down once again and the RSI has dipped below 42, indicating the bears are on top. This negative view will invalidate if the price turns up and breaks above £305.44.

We will wait for the formation of a higher bottom before recommending a fresh trade in it.

BNB Coin – HOW TO TRADE BNB/GBP 1ST JUNE 2021
BNB Coin – HOW TO TRADE BNB/GBP 25TH MAY 2021

 

BNB coin we had projected a bearish picture in our previous analysis and the fall exceeded our target objective. This is a usual feature during downtrends where targets are exceeded as traders dump their positions due to panic. The moving averages have completed a bearish crossover and the RSI is in the negative territory, indicating advantage to the bears. The current pullback is likely to face stiff resistance at £302.79.

BNB Price GBP – BINANCE TRADING

The downsloping 20-day EMA and the RSI in the negative territory suggest the bears have the upper hand. If the BNB coin turns down from the 20-day EMA and breaks below the neckline, the BNB/GBP pair will complete a bearish head and shoulders pattern. This setup has a target objective at $178.4. This negative view will invalidate if the bulls push the BNB price GBP price above £438. Such a move could open the doors for a retest of the all-time high at £493.20. As the price is below both moving averages, we suggest traders remain on the sidelines.

BNB Coin – HOW TO TRADE BNB/GBP 18TH MAY 2021

BNB coin broke below the 20-day EMA on May 12, indicating profit-booking at higher levels. The bulls attempted to push the BNB/GBP price back above the 20-day EMA on May 14 but failed. That resulted in further selling, dragging the price below the 50-day SMA on May 17. The bulls are currently trying to push the price back above the 50-day SMA. If they succeed, the BNB/GBP pair could rally to the 20-day EMA.

 

BNB Coin – BINANCE TRADING

BNB The downsloping 20-day EMA and the RSI in the negative territory suggest the bears have the upper hand. If the price turns down from the 20-day EMA and breaks below the neckline, the BNB/GBP pair will complete a bearish head and shoulders pattern. This setup has a target objective at $178.4. This negative view will invalidate if the bulls push the price above £438. Such a move could open the doors for a retest of the all-time high at £493.20. As the price is below both moving averages, we suggest traders remain on the sidelines.

BNB coin – HOW TO TRADE BNB/GBP 11TH MAY 2021

BNB coin dip on May 10 could have triggered the stop-loss, which was suggested to be kept at break-even in our previous analysis. Usually, when an asset struggles to continue higher after making a new all-time high, it is a sign of exhaustion. The bulls are attempting to defend the 20-day EMA. If they succeed, the BNB pound pair may remain range-bound between the 20-day EMA and £493.20 for a few days.

BNB coin – BINANCE TRADING BNB/GBP

BNB A breakout and close above £500 could start the next leg of the up-move that may reach £614.15. However, the flattening 20-day EMA and the negative divergence on the RSI indicate the momentum may be weakening. A break below the 20-day EMA could result in long liquidation from the short-term traders. That may pull the bnb pound down to the 50-day SMA and then to £320. Traders may remain on the sidelines and wait for the correction to end before buying again.

BNB coin – HOW TO TRADE BNB/GBP 4TH MAY 2021

BNB coin broke above the downtrend line on April 29, which triggered the buy recommendation given in the previous analysis. After hesitating near the all-time high at £465.76 on May 1 and 2, the BNB/GBP pair made a strong move higher on May 3. However, the bulls are struggling to hold on to the higher levels. If the bears sustain the price below £465.76, several aggressive bulls may get trapped, resulting in a long liquidation.

bnb pound Trading –  how to trade BNB

That could pull the BNB poound chart down to the 20-day EMA. Therefore, traders could keep their stop-loss at breakeven. A strong rebound off the 20-day EMA will suggest that traders continue to buy at lower levels. The bulls will then make one more attempt to push the BNB poound chart above the all-time high at £490.65 and resume the uptrend. If they succeed, the pair may rally to £614.15. On the contrary, if the bears sink the price below the 20-day EMA, the pair could drop to the 50-day SMA.

BNB Coin – HOW TO TRADE BNB/GBP 27TH APRIL 2021

BNB coin bulls are buying Binance Coin at the 20-day EMA but the bears are offering a stiff resistance above £425. The price is currently sandwiched between the downtrend line and the 20-day EMA. Both moving averages are sloping up and the RSI is above 58, suggesting the bulls have the upper hand. If the buyers can push and sustain the price above the downtrend line, the BNB/GBP pair could retest the all-time high at £465.76.

bnb pound Trading –  how to trade BNB

A breakout of this resistance could start the next leg of the uptrend that could reach £614.15. Contrary to this assumption, if the bears sink the BNB price GBP below the 20-day EMA and the £318.39 support, the selling could intensify and the pair may start a deeper correction toward the 50-day SMA. As the momentum seems to be weakening, we will not recommend any positional trades. The short-term traders may consider buying if the price breaks and closes above the downtrend line. As this is a risky trade, a close stop-loss can be kept and the position size may be reduced to 50% of the usual.

BNB Coin – HOW TO TRADE BNB/GBP 20TH APRIL 2021

BNB coin trade levels were bang on target as well. Last week, we had told traders to not get greedy and book profits on 80% of the positions when the price was about £420. The price only continued lower from there and has reached the 20-day EMA. The BNB/GBP pair attempted to bounce off the 20-day EMA on April 19 but the long wick on the day’s candlestick shows traders sold on rallies. This suggests the sentiment has turned negative.

BNB Price GBP – BINANCE TRADING

If the bears sink the BNB price GBP below the 20-day EMA, the selling could intensify and the pair could drop to £300 and then to the 50-day SMA. Such a deep correction will delay the next leg of the uptrend. Contrary to this assumption, if the price once again rebounds off the current level and rises above £400, it will suggest sustained buying by the bulls at lower levels. That could result in a retest of the all-time high at £465.761. Though the chart structure looks positive, we are not suggesting any trade in it because the overall sentiment remains weak.

BNB coin – HOW TO TRADE BNB/GBP 13TH APRIL 2021

BNB coin has more than doubled in price since our recommendation to buy following a breakout above the triangle. Although the target objective was £326, the momentum blew past this and reached an intraday high at £465.761 on April 12. Traders should now not get greedy and close 80% of their positions at the current levels. They can keep a small position open with a trailing stop-loss to pocket any further gains.

bnb pound Trading –  how to trade BNB coin

BNB Price GBP_Chart The sharp rally of the past few days has pushed the RSI above 80, indicating the Binance  price GBP is overbought in the near term. Therefore, we anticipate the pair to enter a minor correction or consolidation. Generally, the corrections in a strong uptrend last anywhere between one to three days. However, if the rally fails to resume within three days, it will suggest the momentum may be weakening. The major support on the downside is the 20-day EMA. A strong bounce off this level will suggest the sentiment remains positive and the bulls are buying on dips. However, a break below the 20-day EMA will indicate a change in trend.

BNB coin – HOW TO TRADE BNB/GBP 6TH APRIL 2021

BNB coin soared above the resistance line of the symmetrical triangle on March 30 and this triggered the buy recommendation given in the previous analysis. Traders who acted on the suggestion are sitting on some quick profits. The BNB/GBP pair picked up momentum after breaking out of the triangle and climbed above the all-time high at £249 on April 2.

BNB Price GBP – BINANCE TRADING

BNB Price GBP_Chart The bears tried to trap the bulls and start a sell-off on April 3 but failed. This resulted in renewed buying, pushing the BNB price GBP to a new all-time high today. The upsloping moving averages and the RSI in the overbought territory indicate the bulls are in the driver’s seat. The next target objective to watch on the upside is £326, which is the pattern target from the breakout of the triangle. This bullish view will invalidate if the BNB price GBP reverses direction and plummets below the 20-day EMA. Such a move will suggest aggressive profit-booking at higher levels. Traders who are long can trail their stops higher to protect their paper profits.

BNB Coin – HOW TO TRADE BNB/GBP 30TH MARCH 2021

BNB coin break below the 20-day EMA on March 25 was purchased aggressively, indicating strong demand at lower levels. Binance Coin has formed a symmetrical triangle pattern. If the bulls can push the price above the triangle and sustain the breakout, the BNB price GBP pair could rally to the all-time high at £249 and then to the pattern target at £326.

bnb pound Trading –  how to trade BNB

BNB Price GBP_Chart The marginally rising 20-day EMA and the RSI above 58 indicate a slight advantage to the bulls. Traders may consider initiating long positions on a close above the triangle with the initial stops placed below the support line of the triangle. Contrary to this assumption, if the BNB price GBP turns down from the resistance line of the triangle, the pair may consolidate inside the triangle for a few more days. The trend will turn in favour of the bears if they can sink the price below the triangle. In such a case, a drop to £130 is possible.

BNB Coin – HOW TO TRADE BNB/GBP 23RD MARCH 2021

BNB coin bulls are defending the 20-day EMA while the bears are mounting a stiff resistance at £200. This has resulted in a tight range trading in Binance Coin. The flat 20-day EMA and the RSI just above the midpoint suggest a balance between supply and demand. Generally, such tight ranges lead to a trending move.

BNB Coin – BINANCE TRADING

BNB Price GBP_Chart In this case, if the bears sink the BNB price GBP below the 20-day EMA, the BNB/GBP pair could start its decline to £156 and if that level also cracks, the next critical support is £130. Contrary to this assumption, if the price turns up from the current levels and rises above £200, the bulls will try to push the price to £226.44 and then challenge the all-time high at £249. Short-term traders may attempt a trade if the price breaks and closes above £200. The stop-loss for the trade can be kept just below the 20-day EMA.

BNB Coin – HOW TO TRADE BNB/GBP 16TH MARCH 2021

BNB price GBP broke above the symmetrical triangle and soared above the £200 overhead resistance on March 9. The bulls attempted to resume the uptrend on March 11 but they could not sustain the higher levels, as seen from the long wick on the day’s candlestick. This could have attracted profit-booking from short-term traders and that pulled the price back below the £200 support on March 12. The attempt by the bulls to push the price back above £200 failed on March 13.

BNB Coin – BINANCE TRADING

BNB Price GBP_Chart The BNB price GBP pair continues to witness profit-booking and has now dropped to the strong support at the 20-day EMA. A strong bounce off it will signal strength, but if the bears sink the pair below it, a drop to £130 may be on the cards. The flat 20-day EMA and the RSI near the midpoint suggest a range-bound action for the next few days. Trading can be random and volatile inside a range, hence traders could remain on the sidelines until clarity emerges.

BNB coin – HOW TO TRADE BNB/GBP 9TH MARCH 2021

The BNB Price GBP bulls have successfully defended the 20-day EMA for the past few days, which suggests traders continue to buy on dips. The upsloping moving averages and the RSI in the positive territory suggest advantage to the bulls. The BNB/GBP pair has formed a symmetrical triangle. If the buyers can propel the price above the triangle, the pair may rally to £200 and then to the pattern target at £250.

BNB Price GBP – BINANCE TRADING

However, if the BNB Price GBP turns down from £200, the pair may again drop to the 20-day EMA. If the bulls defend the level, the pair will again try to rise above £200. Contrary to this assumption, if the BNB Price GBP turns down from the current level and breaks below the triangle, the pair could drop to £130 and then to the 50-day SMA. Generally, a sharp rally is followed by a period of consolidation before the next trending move starts. We will wait for the price to break out and sustain above £200 or wait for it to dip to £130 before proposing a trade as that gives a good risk to reward ratio to traders.

BNB Coin – HOW TO TRADE BNB/GBP 2ND MARCH 2021

BNB Price GBP in our last weeks assumption turned out to be correct as the altcoin dropped to the 20-day EMA on February 28 as we had highlighted in the previous analysis. Both moving averages are sloping up and the RSI is above 61, which suggests that bulls are in control. If they can build on the March 1 rebound and propel the price above £200, the BNB/GBP pair may again rally to the all-time high at £249.

BINANCE TRADING

BNB Price GBP_Chart On the other hand, if the price turns down from the current levels or the overhead resistance, the pair may remain range-bound for a few days. The trend will favor the bears if the price can break the £130 support. Although the trend is bullish, strong rallies are usually followed by a period of consolidation. We anticipate the pair to trade in a range for a few days before starting the next trending move. Therefore, we are not proposing a trade in it.

BNB PRICE GBP – HOW TO TRADE BNB/GBP 23RD FEBRUARY 2021

BNB price GBP Traders who purchased Binance Coin on our recommendation in the previous analysis could have made a huge profit. Though the all-time high at £249 on February 19 exceeded our expectations, we are not complaining. The sharp rally propelled the RSI above 94, which shows an extremely overbought condition. That attracted profit booking on February 20. The aggressive bulls tried to resume the uptrend on February 21 but failed as higher levels again attracted profit-booking.

BINANCE TRADING

BNB Price GBP_Chart The bulls have been defending the £156.648 level for the past few days but repeated retest of a support level tends to weaken it. If the bears sink the price below £156.648, the BNB price GBP pair could drop to the 20-day EMA. This is an important support to keep an eye on because a break below it could intensify the selling and pull the BNB price GBP down to £91.686. A vertical rally usually ends in a waterfall decline. Therefore, we suggest traders remain on the sidelines and wait for the correction to end before initiating any long positions.

BNB PRICE GBP – HOW TO TRADE BNB/GBP 16TH FEBRUARY 2021

BNB price GBP is currently consolidating between £85 and £102.60 for the past few days. When the price does not correct in a strong uptrend, it shows that traders expect the rally to continue further. If the bulls can push the price above £102.60, a retest of the all-time high at £107.728 is possible. A breakout of this level will resume the uptrend. The immediate target objective is £120.2 and if that level is crossed, the uptrend could reach £150.

BINANCE TRADING

BNB Price GBP_Chart Contrary to this assumption, if the Binance price GBP turns down and breaks below £85, it may correct to the 38.2% Fibonacci retracement level at £77.658, and if this level also cracks, the next support is at the 20-day EMA. A trading opportunity could open if the Binance price GBP sustains above £107.728 for a few hours. For this trade to be successful, the price should breakout and surge higher without any hesitation. As the risk is high, traders could choose to pass this trade or attempt it with a 50% position size of the normal.

HOW TO TRADE BNB/GBP

The BNB price GBP is of the markets most widely traded pairs. Binance is currently the world’s largest cryptocurrency exchange, with around $26,721,795,985 in assets traded in an average 24 hours period. Binance’s rise to the top has been swift. Since its launch in July of 2017, Binance has grown at a rapid rate.

The Binance Coin (BNB)

BNB is an ERC20 token built on Ethereum. The total supply is limited to 200 million BNB, after which no more coins will be created. BNB was created by Binance in 2017 as its utility token for discounted trading fees. BNB has since become the native token of the main Binance Chain blockchain. BNB can also be used to pay for travel expenses (such as hotels and flights booking), to buy virtual gifts, to shop using a credit card, and more. What additional utility does BNB have Store/Hold BNB Many traders and investors store their BNB with the mindset of the Token increasing in value over time. You can store your BNB safely on your Binance account or on a 3rd party cold storage device that supports the BNB token. Trade BNB You can trade BNB for 150+ cryptocurrencies on Binance’s industry-leading, fast, and secure trading platform. Binance offers several trading pairs for BNB to meet your needs. Send BNB Payments for products and services all over the world, the token can be sent to an appropriate destination very fast with block confirmation making 1 second to complete. Spend BNB Aside from using BNB for your trading fees on Binance, you can also use BNB in more than 100 ways, most of which for buying anything from meals to houses. Staking and passive income On the Binance cryptocurrency exchange, it is possible to utilise the BNB token to earn staking rewards on their launchpad. It’s very easy to utilise the launch pool to stake, earn and passively generate income

HOW TO TRADE BNB PRICE GBP

BNB price GBP, despite maturing since its launch in 2017, is regarded as a highly volatile cryptocurrency. The number of whales holding between 10,000 and 100,000 BNB coins ($1,300,000 and $13,000,000) has increased by 10 in the past week. Similarly, smaller holders with 1,000 to 10,000 BNB have also been joining the network in the past week from 656 on February 3 to 667 currently. It is interesting to realize that as Binance Coin’s value soars, some whales are offloading. This shows that all of the Binance Coin holders are perhaps in profit, and therefore, it makes sense to sell.

GBP AND BNB – MAIN DIFFERENCES

Many factors drive crypto’s price direction, and they are much different from those that influence fiat currencies like GBP. Traders looking to trade BNB Price GBP currency must understand these differences and factors to trade profitably. Even though it differs (in nature) from Bitcoin and Etherereum pricing direction, like any other cryptocurrency, is directly correlated to Bitcoin. Another thing that must be kept in mind is that all digital currencies, including that of Bitcoin, are mostly influenced by increased public sentiment related to the adoption of digital currencies in the future. Thus, news about developments that further impact cryptocurrencies’ traction drives the prices of cryptocurrencies, upwards. Especially in the case of BNB, the growing number of Binance exchange users getting exposure to the exchange is a major driving force behind the adoption of BNB. More recently the Launchpad and the DEFi solutions surround the blockchain have been seen to improve and increase the utility of the token, that correlating the high gas Fees on Ethereum the DEFi space has been a very nice and positive addition to the BNB token and overall ecosystem.

Hopefully, you have enjoyed today’s article. Thanks for reading! Have a fantastic day! Live from the Platinum Crypto Trading Floor.

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