Hello everyone,
Looking at the BNB chart its showing a resistance at 0.0016409. This is an important resistance to determine a whether it is bullish or bearish. Not breaking out the resistance will form a H&S formation with the neckline at 0.0014143. Lets hope this trade turns out bullish but I am not very bullish on BNB.
I would recommend partial selling your investment at each target with an option to rebuy at corrections if we turn out to be bullish. Becareful as this is a risky trade.
Good luck trading :)
***This information is not a financial advice. I am still learning and practicing.***
Looking at the BNB chart its showing a resistance at 0.0016409. This is an important resistance to determine a whether it is bullish or bearish. Not breaking out the resistance will form a H&S formation with the neckline at 0.0014143. Lets hope this trade turns out bullish but I am not very bullish on BNB.
I would recommend partial selling your investment at each target with an option to rebuy at corrections if we turn out to be bullish. Becareful as this is a risky trade.
Good luck trading :)
***This information is not a financial advice. I am still learning and practicing.***
Comment:
A right shoulder seems to be forming. If the neckline support is broken, we will see 11000 to 11800 sats which would be great entry point
Comment:
Forming double top. I think we are going to the neckline.
Comment:
Bulls are strong, its forming a triangle creating higher lows. Its more likely to break the resistance now. That how trade change position quick
Comment:
Well, the triangle broke down. Back to being bearish :)
Comment:
We are at the neckline. If neckline is broken, target would be 0.00119 to 0.00123. Lets see who cracks first, the neckline or the resistance line. bulls or bears, that is the question!