Please don’t skip this message — it only takes a minutes to read. Sorry to bother you, but time is running out.

Bitcoin is freedom. If you think independent, ‘bitcoin-only’ media is important, if you believe information and education about bitcoin matters for adoption, and if you have gained something from our work, we would be grateful if you could chip in $21. 

Join the 2% of our readers who occasionally make a donation. If everyone reading this donated just $21, we would reach our target in a couple of hours. $21 is all we ask for. To cover the cost for our servers, editors, writers, and thumbnail artists we rely on our readers’ generous support. 

How You can chip in:

  • Send sats as a tip to a writer. All of our writers have an active tipping widget.
  • Join our campaign on 
    Awesome perks are waiting for you such as the limited edition Bukele Blend Coffee from El Salvador.

Your support ensures that Bitcoin News stays independent with a laser focus on Bitcoin and only Bitcoin.

DONATE NOW BNB Market Analysis 29th May 2019

BNB Market Analysis 29th May 2019

Support free writers: > send a tip

written by

A week has passed since the previous analysis of BNB was published, but neither buyers nor sellers have yet managed to move the price to the critical points, which we wrote about earlier. After the buyers failed to break through the upper trend channel lines (global and local) for the first time, the sellers tried to start their trend, but it ended at a price of $29: BNB Market Analysis 29th May 2019

Please note that after two candles with large pins and volumes the price turned to the opposite side. Thus, buyers continue their initiative at the upper trend lines, but their local growth wave, which began on 10 May, became weak. The confirmation of this is support in the form of a red trend line, which buyers could not kept on 26 May and at the moment, the former customer support has become antagonistic to them: BNB Market Analysis 29th May 2019

Therefore, if buyers can not fix above the trend lines and $35, we expect a fall as a first step to $28-29 (in the range of the previous consolidation, from which a new buyers attack has started and which is still ongoing): BNB Market Analysis 29th May 2019

In wave analysis, we see growth from December 2018 in the form of a 5-wave structure and now the last 5th wave of growth is formed, which at present amounts to 78.6% of the wave 3: BNB Market Analysis 29th May 2019

If you look at the 5th wave in detail, you can clearly distinguish between two attacks of buyers: BNB Market Analysis 29th May 2019

If we look on the chart, it becomes clear that the current growth, which has continued since 17 May, surpassed the previous wave of growth by 27.2%, but it is less aggressive and with the naked eye it is noticeable as the local highs begin to turn round.

The previous wave of growth was corrected by 50%. It is currently not clear whether the current price stop is the completion of the 5th wave of growth, or a temporary stop before the test of $38-42. In our opinion, it all depends on whether sellers can break through $30.7. In this case, the sellers will have a chance to correct the entire wave of growth from 10 May.

Otherwise, we will wait for the test of the price zone of $38-42. However, so far, sellers can not capture $33, so it’s too early to talk about change in the market. The main targets remain unchanged.


Follow on Twitter: @bitcoinnewscom

Telegram Alerts from

Want to advertise or get published on – View our Media Kit PDF here.

About the Author: Peter Oleshchuk is a trader and technical analyst.

He has spent two years studying and analyzing the crypto market.

Image Courtesy: Bitcoin News

Help spread this article :) is NOT INVESTMENT ADVICE

Opinions expressed are entirely their own and do not necessarily reflect those of

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of 


bitcoin shop miami

Read More Bitcoin News

Hayek And Bitcoin

Hayek and Bitcoin

Hayek passed long before Bitcoin’s inception, but in his book The Denationalisation of Money, he argued for nothing short of stripping the state of its monopoly power of money itself.

Read More »


bitcoin shop miami

Join our Newsletter

Video of the Week


Latest on Bitcoin News

Join our Newsletter