BNB is a Binance exchange coin, a very technical coin for obvious reasons. The tool is very simple and predictable in trading. BNB is a brand of the Binance exchange.
In the global downward channel. A lateral movement was formed inside it, which formed a horizontal channel with a pitch of 40%. Now the price is at the bottom of the accumulation channel. Potential formation of a figure of a triple bottom when the price goes beyond the downtrend line.
The reversal zones on which the development of further movement depends showed on the chart. The critical zone and the trend fracture zone were also shown on the chart. It is important that the price does not fix below it.
Entrance. 1) Now with confirmation of support. 2) In case of a breakthrough or a pullback after a breakthrough of the downtrend line (red line, resistance line of the downtrend).
Stop loss. Under key support levels during your entry into the market. Also consider coin volatility and the possibility of resetting Stop Loss before an upward movement.
Target. Horizontal channel target + 40% Triple bottom target from + 40% to 113%
BNB / USDT trading idea for January 14th. BNB / USDT. Ascending channel. Cycle. Wedge. Reversal zones.
Trade closed: target reached
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1 Target achieved + 23% Now the price is in a very important zone of the fracture of the main downtrend. Fixing prices above this zone will mean further price growth.
Comment
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Comment
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+ 13.13% There is a breakdown of the downtrend line.
Trade closed: target reached
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bnb/usdt Long + 61% Short + 70% (the price fell below, but the last targets were in this zone). Long + 125% Short + 9% Long + 61% (the trend continues).
Comment
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local work. After the break of the main downtrend line, a local uptrend developed and a diamond pattern with a base of 20% was formed. The price held above the downtrend line, which is a good sign. This formation may become the ultimate trend reversal pattern. Entry towards the breakout of this formation.
Trade closed: target reached
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+ 15% (second target zone 80% of 100% of crowd targets) Also, now there is a rollback to the critical mirror support level (which was the resistance of the previous channel)
Trade closed: target reached
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+ 40% Breakout of an important resistance level
Comment
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+ 57% from the trend reversal zone. An important zone of resistance is broken (yellow level). The trend is developing. Possible rollback to this level. Globally, they can draw a cup. Objectives on the chart. I congratulate everyone on the big profit on such a highly liquid coin.