Convergence

Based

Dubai

Divergence

<div class="coingape"> 
 <p>The fourth-largest crypto ex<a rel="noopener noreferrer nofollow" title="change" href="https://thebittimes.com/tag/change.html">change</a>, worth $243 and with $37.5 billion in market capitalization, is looking forward to a short-term bullish wave. With this <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>, traders and investors can prepare for a possibly brief rally to $252.</p>  
 <div class="quads-location quads-ad90952 " id="quads-ad90952" style="float:none;text-align:center;padding:0px 0 0px 0;"> 
  <div class="ad1"> 
   <div class="advertised"> <span class="ad-placeholder">advertisement</span> 
   </div> 
  </div>  
 </div> 
 <h2 id="bnb-price-nurtures-hs-pattern-breakout">BNB Price Nurtures H&amp;S Pattern Breakout</h2> 
 <p>Based on the four-hour chart, BNB price has just broken out of an inverted head and shoulders (H&amp;S) pattern.</p> 
 <p>This is a bullish reversal signal that occurs after a prolonged downtrend in the price of a cryptocurrency. It indicates that the BNB sellers are losing momentum and the buyers are ready to take over.</p> 
 <p>The inverse H&amp;S consists of three consecutive lows, with the middle one being the lowest and the other two being higher and roughly equal, as shown on the four-hour chart.</p>  
 <div class="quads-location quads-ad148831 " id="quads-ad148831" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div class="NewTrendin dsdsd m-on"> 
   <h5> 
    <svg class="inline-block w-5 ml-1 text-black _text-digg-blue" width="34" height="20" xmlns="//www.w3.org/2000/svg" viewbox="0 0 17 17" fill="currentColor"> <path fill-rule="evenodd" d="M12 7a1 1 0 110-2h5a1 1 0 011 1v5a1 1 0 11-2 0V8.414l-4.293 4.293a1 1 0 01-1.414 0L8 10.414l-4.293 4.293a1 1 0 01-1.414-1.414l5-5a1 1 0 011.414 0L11 10.586 14.586 7H12z" clip-rule="evenodd"></path> 
    </svg>Recommended Articles </h5> 
   <div class="TrendSList owl-carousel owl-relatedpostar"> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/07/30/cf35a15cb82cd1ed6fc87ff4ecbfc001.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/07/30/cf35a15cb82cd1ed6fc87ff4ecbfc001.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4"> Crypto Presale Projects For 2023 To Invest; Updated List </h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="crypto exchange affiliate programs" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/07/30/9acafad721dcbc6c15e6daccd38017cb.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/07/30/9acafad721dcbc6c15e6daccd38017cb.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="crypto exchange affiliate programs" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Best Crypto Ex<a rel="noopener noreferrer nofollow" title="change" href="https://thebittimes.com/tag/change.html">change</a> Affiliate Programs In 2023</h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/07/30/f88de9f91a8c6b7926f52e209e8f697e.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/07/30/f88de9f91a8c6b7926f52e209e8f697e.webp" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4"> Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Updated] </h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/07/30/472515f3ab5ae759f4e49d6afa8bc33a.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/07/30/472515f3ab5ae759f4e49d6afa8bc33a.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Crypto Telegram Channels List 2023 [Updated]</h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/07/29/48cfebc8a0493db9937bed5dd005ee19.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/07/29/48cfebc8a0493db9937bed5dd005ee19.webp" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Top 10 Web3 Games To Explore In 2023; Here List</h6> <span>Must Read</span> 
    </div> 
   </div> 
  </div> 
 </div> 
 <p>Traders are advised to trade the H&amp;S after its confirmation. For instance, when the price breaks above the neckline, which is a resistance line drawn by connecting the highs of the two shoulders – at $242 for <a rel="noopener noreferrer nofollow" title="BNB" href="https://thebittimes.com/tag/bnb.html">BNB</a>.</p> 
 <p>Traders use this pattern to identify a potential change in the market sentiment, which allows them to enter long positions when the breakout occurs. The expected target for the BNB price movement is calculated by adding the height of the pattern to the breakout point, for example, the 4% move as shown on the chart.</p> 
 <figure id="attachment_155607" aria-describedby="caption-attachment-155607" style="width: 100%" class="wp-caption aligncenter"> 
  <img decoding="async" class="wp-image-155607 size-full" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201141%20608'%3E%3C/svg%3E" alt="BNB price on the verge of a breakout to $252" width="1141" height="608" data-lazy-src="https://cdn.thebittimes.com/images/2023/07/31/3a5b3074fe93c3551f5bd6424a215254.webp"> 
  <noscript> 
   <img decoding="async" class="wp-image-155607 size-full" src="https://cdn.thebittimes.com/images/2023/07/31/3a5b3074fe93c3551f5bd6424a215254.webp" alt="BNB price on the verge of a breakout to $252" width="1141" height="608"> 
  </noscript> 
  <figcaption id="caption-attachment-155607" class="wp-caption-text">
    BNB/USD four-hour chart – Tradingview 
  </figcaption> 
 </figure> 
 <p>The Moving Average Convergence Divergence (MACD) indicator adds credence to the bullish outlook, with a buy signal. Traders often rely on this momentum index to validate the expected bullish wave. As a rule of thumb, the MACD line in blue must flip above the signal line to validate the uptrend.</p>  
 <div class="quads-location quads-ad124348 " id="quads-ad124348" style="float:none;text-align:center;padding:0px 0 0px 0;">   
 </div> 
 <p>Notably, the H&amp;S pattern calls for a lot of patience with traders often advised to wait for a retest of the neckline support at $242. As <a rel="noopener noreferrer nofollow" title="BNB price" href="https://thebittimes.com/tag/bnb-price.html">BNB price</a> rebounds from this support, a breakout to $252 will start to gain traction.</p> 
 <p>If the H&amp;S pattern’s neckline support holds, traders may want to look out for potential delays at the 200-day Exponential Moving Average (EMA). However, if BNB price continues with the uptrend undeterred by the possible selling pressure at $245, gains to $252 would be a matter of when and not if.</p> 
 <h2 id="binance-gets-node-to-operate-crypto-exchange-in-binance">Binance Gets Node to Operate Crypto Exchange in Binance</h2> 
 <p>Binance has been granted the Operational Minimum Viable Product license to offer crypto exchange services tailored for institutional and approved retail investors in Dubai.</p> 
 <p>The leading exchange will offer the services under Binance FZE, its Dubai subsidiary, according to the announcement.</p> 
 <p>The development comes after <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a>’s interest and efforts to get a provisional MVP license in March 2022 as well as a preparatory MVP license in September of the same year.</p> 
 <p>Binance said that users who qualify to trade on the new platform will do so “knowing they’re under investor protection and market assurance standards tailored specifically for the virtual asset sector,” the statement reads in part.</p> 
 <h3 id="related-articles">Related Articles</h3> 
 <ul> 
  <li>Bitcoin Price Stuck Under $30k: 10% Bullish Wave Incoming?</li> 
  <li>Hong Kong’s Largest Bank To Support Crypto, But There’s A Catch</li> 
  <li>Coinbase CEO: US SEC Asked Them to Halt Trading For All Crypto Except Bitcoin</li> 
 </ul> 
 <p>&nbsp;</p> 
</div>

BNB Price Trade Idea As Binance Bags Dubai’s Major Exchange License

Table of Contents

TheBitTimes

Other articles published on Aug 1, 2023

John Deaton Sparks Controversy Over SEC’s Interaction with Coinbase

Twitter hijacks @X handle, offered user merch, trip to HQ as ‘thank you’

XRPL Transaction Scanner Floats New Developer Portal

Term Finance Integrates Chainlink Price Feeds to Help Secure Fixed-Term Loans

July Wrap-Up

Why Is Alex Lab Surging? Unmasking the Bitcoin Uniswap

Join our free newsletter for daily crypto updates!