Williams Alligator Indicator shows the lines ¨eating with an open mouth¨ (lips, teeth and jaw lines moving upwards and far away from each other), with the candlesticks above the lines, meaning BNBUSD is in a strong uptrend.
RSI shows that BNBUSD has recently experienced a correction, which might correlate with the red candlesticks forming recently. Currently, BNBUSD is not overbought or oversold, therefore, a trend reversal is unlikely in the near future.
MACD line is over the signal line, indicating the presence of bullish momentum.
Candlestick Patterns: 6 days ago a bullish pattern emerged: Morning Star, followed by another bullish pattern: Three White Soldiers. The bullish patterns were accompanied by an increasing price and increasing RSI. RSI passed 80+ 5 days ago (which indicates the asset is overbought) and kept increasing, until 3 days ago a correction started to take place, which can be seen with the forming of bearish candlesticks forming two Bearish Tweezer Top patterns, with a bullish Tweezer Bottom pattern in between.
Overview: Overall, all indicators suggest that BNBUSD is in a strong bullish trend, but is quite volatile. It can be suggested by RSI and candlestick patterns that it is finishing a price correction phase. A long position is recommended, entry price is set slightly higher than current price for assurance, and stop loss is set at about -5%.
RSI shows that BNBUSD has recently experienced a correction, which might correlate with the red candlesticks forming recently. Currently, BNBUSD is not overbought or oversold, therefore, a trend reversal is unlikely in the near future.
MACD line is over the signal line, indicating the presence of bullish momentum.
Candlestick Patterns: 6 days ago a bullish pattern emerged: Morning Star, followed by another bullish pattern: Three White Soldiers. The bullish patterns were accompanied by an increasing price and increasing RSI. RSI passed 80+ 5 days ago (which indicates the asset is overbought) and kept increasing, until 3 days ago a correction started to take place, which can be seen with the forming of bearish candlesticks forming two Bearish Tweezer Top patterns, with a bullish Tweezer Bottom pattern in between.
Overview: Overall, all indicators suggest that BNBUSD is in a strong bullish trend, but is quite volatile. It can be suggested by RSI and candlestick patterns that it is finishing a price correction phase. A long position is recommended, entry price is set slightly higher than current price for assurance, and stop loss is set at about -5%.