Analysts say that an Altcoin flashes calmly despite market correction, Bitcoin Outlook updates
A closely followed cryptanalyst says that one altcoin with large capital shows unique strength in the midst of an ongoing correction in the digital asset markets.
Michaël van de Poppe tells his 614,000 followers that Binance Coin (BNB), the tool of the leading cryptocurrency exchange platform Binance, is one of the only coins that currently has an attractive market structure.
In a new strategy session, Van de Poppe says that BNB bulls can be able to take a rally by entering somewhere between $ 215 and $ 211.
«BNB mot [stablecoin] USDT is perhaps the only coin I should look at when it comes to potentially looking at longs. Right now we have rejected, but we are actually achieving a level …
I want to see a level be achieved here to see continuation. So if you want to look for longs on BNB, I think it makes sense to start looking at the range we have here around $ 216 to $ 215. Maybe if you’re a little more defensive you can start looking at $ 211, but this is the only coin that shows strength now. ”
So says the analyst BNB may be on track to reach the $ 256 level, which is about 20% above current prices.
«Still looks good here for BNB. Structure at ETH [Ethereum] is also equal. “
When it comes to Bitcoin (BTC), the analyst says that the leading cryptocurrency by market value has three potential scenarios ahead.
“There are three scenarios I look at with Bitcoin. The first level of support it rests on, but the lowest confirmations.
Preferably sweep of the downturns and recycling is a trigger or flip of $ 20,000. ”I
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Featured image: Shutterstock / Alberto Andrei Rosu / Natalia Siiatovskaia
