LegionQ8

Binance Coin can start to decline to support line of triangle

Short
BINANCE:BNBUSDT   Binance Coin / TetherUS
Hello traders, I want share with you my opinion about Binance Coin. Observing the chart, we can see that the price some time traded near the resistance level, which coincided with the seller zone and later made an impulse up to 644 points, but at once turned around and made a strong impulse down to 500 points, thereby breaking 583 and 523 levels. After this, the price started to move up inside from an upward wedge, where it quickly rose to the resistance level, breaking the 523 support level and soon even breaking the resistance level too. After this, BNB rose to the resistance line, but at once turned around and fell to the support line of the wedge, breaking the 583 level one more time. Next, the price bounced from the support line, rose back to the resistance line of the wedge, and exited from this pattern, making a little movement up. Then BNB made a downward impulse in a triangle, after which the price broke the 583 level and declined to the buyer zone, but a not long time ago BNB turned around and in a short time rose to the resistance level, where at the moment continues to trades near. So, in my opinion, Binance Coin can rebound from the resistance line and start to decline to the support line of the triangle. For this case, I set my target at the 545 level, which coincided with this line. Please share this idea with your friends and click Boost 🚀

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