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Binance Coin: Short-sellers can bag 7% profits if this happens
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Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice
Binance Coin has extended its horizontal channel for a 10th straight day after rebounding from a near 2-wk low on 12 October. With bears formulating yet another attack at the lower trendline, BNB seemed to be dangerously close to a breakdown from the pattern. Bearish divergences along the RSI, coupled with a weakening Awesome Oscillator, pictured a possible 7% drawdown if sellers can slice below a resolute defensive area.
At the time of writing, BNB was trading at $480, down by 2.2% over the last 24 hours.
Source: BNB/USD, TradingView
Constant upwards pressure and healthy volumes allowed Binance Coin to maintain
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