In these last days of uncertainty of the #BTC the Binance Coin gains value, crossing a bullish trend on the daily chart.
Let’s start with the price chart in image 1:
Image 1: tradingview – 2018-06-01 – timeframe 1d – bnb / btc on binance
You can see:
- ADX over 30k suggesting a very strong trend;
- DI which in turn suggests a Bullish trend considering that the + crosses the -di upwards;
- The parabolic sar , directly on the price chart, which suggests a Bullish trend;
- The RSI in an oversold area that nevertheless suggests paying attention;
A possible treding strategy is therefore to buy assuming a possible price increase. It is necessary to place an appropriate stop loss at about 3% less than the current price level.
In image 2 we can see the appropriate stop loss inserted on binance:
Image 2: binance – stop loss inserted
In image 3 we can see the purchase order being an example of real trading:
Image 3: binance – purchase order
The trend of the BTC is now known that influences the trend of the ALT coin: when the BTC is growing, the ALTs also grow and vice versa. However, attention must be paid to performance, in fact with the appropriate Coin in the portfolio it is possible to obtain better performances (ie earnings).
In image 1 I bring you the example of the performances of the portfolio managed by Cryptograph team:
Image 1 : blockfolio – performance portfolio compared to BTC
It can be seen how the countervalue of the entire portfolio, in the last 3 months, has gone from 0.069 BTC to 0.078 BTC, with an increase of 14.62%.
To be able to have good results, and not to risk performing worse than BTC, it is however advisable to stay up-to-date on the various ALT coins and sometimes change the composition of the portfolio.
In image 2 we show, as an example, the current composition of the portfolio managed by Cryptograph:
Image 2 : Cyptocompare – Cryptograph portfolio composition
The coins that have performed well in the last period, and their respective portfolio share, are:
- XRP: 23.53%
- XLM: 10.14%
- XEM: 8.63%
In the past, around 10% of BNBs were also present, but they were sold due to the start of their bearish phase.
You can follow the details of Cryptograph’s portfolio directly on Cryptocompare .
NB: this is just an example of a portoflio and it is not certain that the positive performances we have had so far continue in the future.
The ascent of the BNB continues, the binance coin, with respect to the Etherium. In the article of the 24th March in which we presented this coin we had left with a BNB / ETH exchange rate of 0.022388 against today’s 0.032951 (April 7th 2018 at 11:24).
We are therefore talking about a substantial increase in the BNB / ETH exchange rate, although this in turn does not translate into a real gain as it is in turn the declining ETH / EUR exchange rate.
An idea of trading not to go completely out of the world of cryptocurrencies, in this period when the main (BTC, ETH, XRP, ..) are falling sharply, it could be to park their money on the BNB. In fact, an approximate change in euro to March 24, 2018 was € 10.50, while today April 7, 2018 is € 10.26, or a very low decline compared to other cryptocurrencies.
In the image 1, the completeness chart shows the updated BNB chart updated to date:
Image 1 : Tradinview – BNB / ETH – Timeframe 1 day
In this article we’re going to talk about BNB, short for Binance coin.
This coin, as the name suggests, is the virtual coin created by Binance. It is used to pay transaction fees, since Binance does not accept exchange in Fiat currency (ie currencies with legal tender, such as euro, dollars, etc.), but also as a reference currency for exchange with other secondary currencies (the so-called alt coin ).
We don’t bring this currency to your attention because it’s technologically innovative, but because we want to study its market performance, which we can observe in image 1:
Image 1 : tradingview – BNB / ETH chart on time frame 1d
Indeed, we can see that its exchange rate in Etherium, starting in September 2017, is always on an uptrend. This while the main coins (bitcoin, etherium, ripple, etc.) are instead in a downtrend. For example, over the past 3 months, it has made around + 185%.
Its uptrend could depend on the fact that Binance periodically collects part of the BNBs in circulation and eliminates them, thus decreasing the total number of coins in circulation.
It is therefore certainly an interesting currency. In the immediate term, however, attention should be paid to a possible downward retracement, given the excessive inclination that the uptrend has taken (therefore an entry at this moment would require the insertion of the appropriate stop-loss).