Binance Coin (BNB) Opportunity for a Long Term Investment

September 22, 2019 10:16 PM UTC

It’s clear that BNB has been the lead bull this year in the crypto market. BNB was definitely the first one to experience a bull run in 2019, in fact, the bull run started in December 2018.

BNB’s bull run was a whopping 900% increase in price over the span of 6 months, better than all the other cryptocurrencies. The daily trend hasn’t been too great although the bulls are currently trying to change the trend.

The weekly chart is also not necessarily in great shape as the downtrend is pretty clear and the bulls have done nothing to change it, however, the monthly chart is where the opportunity is at.

The monthly chart has been extremely bullish for BNB and in a strong uptrend since 2017 really. The first half of 2019 was great for BNB and the consolidation has been healthy so far. The bulls are currently defending the 12-period EMA, this is where the bottom could form.

A long-term trader would start to scale in their position right now, this is not guaranteed to be the bottom but the lack of bearish volume would indicate the bottom is at least close.

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