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2018-06-17_BNBUSDT-UTW

The Binance Coin (Symbol: BNB) is one of the rare altcoins that remains in an uptrend. Since our bullish call when the BNBUSDT pair was trading at 9.8 it has progressed more than 60% to 16.  A possible explanation for this atypical bull strength is that the Binance Exchange declares it will use 20% of its profits to buy back BNB every quarter and destroy them, until 50% of all the BNB (100MM) have been bought back, which is a fairly sure bet as long as the platform does make profit. Technically BNBUSDT is setting up to break out from a broadening formation with an horizontal base above the 18 level. It may be a good idea to be long BNBUSDT at the present price level with a stop loss below the last weekly candle (around 13.5).  

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