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Binance resumes to trade inwards its descending triangle consolidation on the long-term charts but seems to be attempting another pauze lower. Price is back at support around 0.00019 but has formed lower highs and lower lows.
The short-term moving media is below the long-term one on the daily time framework while stochastic goes south to indicate the presence of bearish pressure. A downside pauze of support could send Binance down to the lows at 0.000035 or lower.
On the 1-hour time framework, it can be noticed that Binance has formed lower highs against bitcoin since late last week, reflecting strengthening bearish pressure. The short-term moving promedio is also below the long-term one on this time framework while stochastic is pointing down spil well.
On the 4-hour time framework, it can be seen that Binance has closed slightly below the near-term support at 0.000185. Similarly, the short-term moving media is below the long-term one while stochastic also points down.
Bitcoin has bot skyrocketing to fresh highs and has reportedly breached $Ten,000 te a number of exchanges. Potential profit-taking at this area could lead to a dip, which might be positive for Binance.
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Still, bitcoin remains vooraanstaande spil Coinbase reportedly added 100,000 accounts late last week and the corresponding surge te retail activity has led to the creation of fresh all-time highs. Traders rushing to join ter on this climb also contributed to propping price up.
Anticipation for the CME bitcoin futures launch is also ter play spil an announcement before the end of the year could ramp up investor rente. This would open the cryptocurrency to more traders that could contant ter on gains.
Spil for Binance itself, it has bot reported that Binance has entered into a strategic partnership with QUOINE, which is the very first registered fiat-enabled exchange te Japan. It has officially received its license from the Japan Financial Services Agency and will be able to provide restringido currency exchange channels for Binance.