A confluence of many technicals sometimes increases the probability of a reversal.
BNB most probably reversed at 395 to continue wave 5
1) Price was at the lows of both big & smaller channels
2) The lower lines of both channels intersect at the 395 area
3) the candle at 395 bounced from 1W ma50, as BNB did several times in the past
4) 395 zone is near FIBO 61.8%, the ideal place for a retracement back up
Pls do make & share your own analysis.
BNB most probably reversed at 395 to continue wave 5
1) Price was at the lows of both big & smaller channels
2) The lower lines of both channels intersect at the 395 area
3) the candle at 395 bounced from 1W ma50, as BNB did several times in the past
4) 395 zone is near FIBO 61.8%, the ideal place for a retracement back up
Pls do make & share your own analysis.
Comment:
Correction: i mean 395 is near the FIBO 78.6% zone, the last chance to reverse.