Rise of Bitcoin (BTC): will token exchanges benefit from it?

Bitcoin surprises, token exchanges will take advantage of it?- With yesterday’s move, buyers seem to be back. Indeed, the Bitcoin climbed nearly 10% on the day yesterday. Some altcoins take advantage of this to take off, but this is not the case with Binance Coin. For now, the BNB stay stuck under 330 dollars. Will token exchanges take advantage of Bitcoin’s rise to break their resistance? Coinbase could he finally break his resistance at $82 ? It’s Exchange Token Weekly!

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Binance Coin will finally break the resistance at $330?

Binance Coin Analysis in 3 Days

This resistance again rejected the price of Binance Coin (BNB) at the beginning of the month. With the Bitcoin going up again, will the buyers finally be able to make the sellers bend? Here is the chart of Binance Coin against the dollar in 3 days.

Binance Coin is still stuck below weekly resistance at $330 - February 16, 2023
Binance Coin price against the dollar (3D)

The price is in the process of resuming at the level of the institutional biasbut the resistance still didn’t give in. Also, the course is in the shorts reload area (0.618-0.786 Fibonacci retracement) an area for selling. If Bitcoin continues its momentum, the resistance should give way and the price could reach the next resistance at $430 (+30%).

On the other hand, if the buyers are unable to persuade the sellers to comply, a return to the $260 bracket is quite possible. It wouldn’t bode well for what happened next.

The momentum is moving up, but the ROI to one resistance on his way. Indeed, a bearish trendline has formed and could act as a barrier.

In the short term, Binance Coin needs to break the resistance at $320

Binance Coin is close to breaking resistance at $320. This one must yield to find colors on the BNB.

Binance Coin must close above $338 in 4H - February 16, 2023
Binance Coin price against the dollar (4H)

In 4H time unit, the BNB is stuck in a ranges between 288 and 320 dollars. The bullish scenario (green arrow) could take place in the event of a close above 338 dollars in 4H. Indeed, this would allow the price to develop above the resistance. If the sellers hold, a return to the bottom of the range at $288 will be possible.

The RSI broke the bearish trendline. Buyers now have the momentum. It will be necessary to continue to evolve above this trendline and to form troughs and ascending peaks on this indicator.

Against Bitcoin, Binance Coin continues to lose strength

We notice it since Several weeks : Bitcoin attracts capital. Altcoins sometimes struggle to perform. This is the case of Binance Coin against Bitcoin.

Binance Coin is in bearish momentum against Bitcoin - February 16, 2023
Binance Coin price against Bitcoin (3D)

The BNB/BTC pair has been rejected at the level of weekly resistance. She now heads to the level of the weekly support at 0.0118 BTC. As long as the pair is in bearish momentumBinance Coin will underperform Bitcoin.

THE momentum is always bearish. THE ROI is under the bearish trendline.

Coinbase bounces off institutional bias at $55

THE US market is in the process of bounce, and Coinbase is taking advantage of it. While the course was rejected at the level of the resistance at $82it looks like the buyers are back.

Coinbase bounced off the institutional bias at $55.
Coinbase price against the dollar (3D)

We see it. The price rebounded at the level of the 9 and 18 moving averages. Also, the price supported at the level of the bearish trendline. From now on, the price will have to break the resistance at 82 dollars. For that, a close above $88 would bode well. In the event of a breakout, the price could reach the next resistance at $105, then that at $160.

THE momentum East bullish. It shows ascending lows and highs. The price would have to continue to climb for cryptocurrencies to continue their momentum. Indeed, it should not be forgotten that Bitcoin is highly correlated to the US market.

The OKB: on the way to 65 dollars?

OKB recently scored a historical high above $44.5. It looks like the OKX exchange token has not finished climbing.

The OKB is in a bullish trend on a weekly basis - February 16, 2023
Price of OKB against the dollar (3D)

OKB is one of the few cryptocurrencies in weekly uptrend. The institutional bias is on the upside in a 3-day time frame and the price has recently bounced off it. The next theoretical objectives are at $65 and $80. This is theextension 1.618 and 2 of Fibonacci. As long as Bitcoin is trending higher, OKB’s rise may continue.

THE momentum East bullish. The RSI shows troughs and ascending peaks. Attention ! If the RSI begins to show bearish divergences, we will have to start being vigilant. Indeed, this will mean that buyers are running out of steam.

The KCS soon to 10.5 dollars?

The Kucoin Token is in less shape than the OKB, but it is in the process of bounce. The Kucoin platform token may soon regain resistance at $10.5.

The Kucoin Token is against the resistance at $8.5 - February 16, 2023
Price of the Kucoin Token against the dollar (3D)

The course is opposite the resistance at $8.5. Like the BNB, the KCS must get rid of this resistance to regain color. If the buyers manage to push above the last high at $9, the price could reach the next resistance at $10.5 (+20%).

Attention ! A double top will remain possible if resistance holds. In this case, the price would join the support at 6.5 dollars. The momentum is very encouraging. It continues to evolve above the bearish trendline. The RSI should continue like this, starting with a close above 67 RSI.

THE Binance Coin and the Kucoin Token are at the level of important resistances. If they give way, these altcoins could join their next resistances. For the BNBthe next resistance is at $430. On the side of KCSthe next resistance is at $10.5. Coinbase is bouncing back. Now we have to break the resistance at $82. Coinbase is in good shape. American action should continue on its dynamics. The OKX platform token may soon join the $65 and $80 Fibonacci extensions 1,618 and 2. Cryptocurrencies have been in good shape since the beginning of the year, and the momentum does not seem to be over.

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Last Verdict

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