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Long

BNB-USD LONG opportunity according to price channel / action?

BINANCE:BNBUSD   Binance Coin / US Dollar (calculated by TradingView)
Context:
The Binance crypto exchange. During the gold rush, the sure fire route to success was to sell pick axes and shovels. Binance are certainly benefiting from the cyrpto gold rush today. The BNB token has become a bit of a hedge in the bearish crypto markets and has been following a long a upward trend as shown.

Current Trend:
Price is now above dynamic support, indicated by Ichimoku cloud and price action analysis.

Target:
LONG Entry $14.10
Stop loss: $13.20
Target 1: $16.10
Risk Reward: 2.2

Long Term Target:
Target 2: $18
Target 3: $20Trading price is now above dynamic support and by price action analysis.
Trade active: Strong resistance has been broken through and now price is resting on $14.50. Unsurprising after such a move upward. This is another good opportunity to enter the trade if you missed it at $14.40.
Comment: Price moving away from the support at $14.40.
Comment: Move Stop loss up to $14.40 for a no risk trade.

Comments

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