$BNBBTC continues parabolic run with massive volume surge and C&
- If you’ll notice from my last BNB posting (the mid-long last week) has so far been on track and now has developed into a perfect opportunity for a profitable short.
As the chart indicates the cup and handle is the deciding factor in this technical analysis as i say many times when conducting TA; I wait for two “confirmations” (3 if the volatility is exceptionally out of hand / awesome) and by confirmations, on this particular pairing:
- I saw the pattern formation with master volume using TLine hit n’ run EMA8,12 SQZ + volume to catch the breakout.
- Additionally the crossing of R1 & S2 would help bolster this projection.
- Then finally the C&H beginning to form was more than enough to go on that BNBBTC is showing healthy growth with no signs of slowing down.
Though (IMO) I would short at TP (only one target) and while many others may respectfully disagree I understand where they’re coming from but I didn’t get where I am today by taking needless risks of the ROI on the entry yields above 50% in under 48-72 if its sideways but broke suppirt then anywhere from 2-3 days to 5-7 days to 7-10 days are the usual timeframes / hours - days I usually work with) and arguably most forex traders tbh.
Thus I would set your stop loss at the anchor in the charting and set your alert for TP and my ETA for said timeframe is expected to be about 60 hours and I have been pretty nasty with the predictions as of late (after all I am the w1z ) and lets see how this pans out.
P.S. I’ll be at Hackathon all day in Brooklyn NYC; so I’ll try to update and post but forgive me if I’m late to do so. I thought I’d squeeze one in real quick with my morning coffee before I bounce. give me a shoutout if you’re there. Im gonna compete for that 10K and even if I lose it will still be fun haha.
Peace && Love
-@a1mTarabichi
*Disclaimer:
This is not financial advise. It is solely for entertainment & educational purposes. Feel free to express your own opinions as well; I encourage you to do so but don’t invest a penny more than you can afford to lose & as I always say: TRADE WITH YOUR HEAD, NOT WITH YOUR GUT
Comment:
So for whatever reason they would not let me update in time but I kept trying to post short 39850s as I saw the reversal coming. Maybe pointless in mentioning it now...Don’t understand what’s the point of not being able to update an idea I have to upgrade my TradingView account sorry guys I tried to post in time hopefully your stop loss mitigated anything too serious in terms of potential ROI missed
Comment:
If you missed your chance I would short @ 38150 or just HODL at this point
