Hello guys,
I think BNB against BTC is completing an interesting setup. If we look at this token we can appreciate its resiliance against BTC: characteristics very rare during this last BTC run period.
If we analyze the chart we can find two completely different situations on the basis of time frame we analyze: on the 2h time frame we can see a strong bullish movement, supported by volume and followed by indicators instead on daily basis we see a falling price, struggling with 200 MA. On the other hand, the daily candle is now completing, it's a classical inversion candle, so it's plausible to see higher prices during next sessions.
I think price can go to 0.001715 BTC or even to 0.00181 BTC, where passes the descending trend line starting from the top of mid June, if it steadily breaks 0.00166 BTC.
Once signal is triggered STOP LOSS must be set under 0.001627
To sum up:
BUY BNBBTC if steadily breaks 0.00166----> TP1: 0.001715----> TP2 0.00181 SL 0.001627
***This analysis is not a buy or sell advice, it's drawn up for educational purpose only***
I think BNB against BTC is completing an interesting setup. If we look at this token we can appreciate its resiliance against BTC: characteristics very rare during this last BTC run period.
If we analyze the chart we can find two completely different situations on the basis of time frame we analyze: on the 2h time frame we can see a strong bullish movement, supported by volume and followed by indicators instead on daily basis we see a falling price, struggling with 200 MA. On the other hand, the daily candle is now completing, it's a classical inversion candle, so it's plausible to see higher prices during next sessions.
I think price can go to 0.001715 BTC or even to 0.00181 BTC, where passes the descending trend line starting from the top of mid June, if it steadily breaks 0.00166 BTC.
Once signal is triggered STOP LOSS must be set under 0.001627
To sum up:
BUY BNBBTC if steadily breaks 0.00166----> TP1: 0.001715----> TP2 0.00181 SL 0.001627
***This analysis is not a buy or sell advice, it's drawn up for educational purpose only***
Trade closed: target reached:
First target reached 0.001715 BTC: out with first half position
Trade closed manually:
Out with second half position at 0.001725