BNB SELL/SHORT to 380 -310 before THE BIG RISE to 790++
TICKER CODE: BNBUSD
Company Name: Binance
Industry: Blockchain & Cryptocurrency
Technical Analysis
1. Large Flag Pattern
2. Pennant / Flag forming downwards to complete the Large Flag Pattern
3. Fibonacci Retracement at 0.618 (Golden Zone)
4. **Note that the market could fall to the previous structure level at 310 which is also at Fibonacci 0.786 (Silver Zone)
5. Fibonacci Expansion Safe Take Profit Level 1 (Grey Zone) Also the length of Flagpole
6. Forecasted the Oversold Level in RSI
Entry: 380 - 310
Take Profit: 790
EXPECTED Take Profit in June - September from the entry of 310 - 380
This analysis is also an update from my previous BUY/LONG post as the market could not reach our initially Take Profit.
Company Name: Binance
Industry: Blockchain & Cryptocurrency
Technical Analysis
1. Large Flag Pattern
2. Pennant / Flag forming downwards to complete the Large Flag Pattern
3. Fibonacci Retracement at 0.618 (Golden Zone)
4. **Note that the market could fall to the previous structure level at 310 which is also at Fibonacci 0.786 (Silver Zone)
5. Fibonacci Expansion Safe Take Profit Level 1 (Grey Zone) Also the length of Flagpole
6. Forecasted the Oversold Level in RSI
Entry: 380 - 310
Take Profit: 790
EXPECTED Take Profit in June - September from the entry of 310 - 380
This analysis is also an update from my previous BUY/LONG post as the market could not reach our initially Take Profit.
Trade closed: stop reached:
Market has formed a pennant and stopped out. My future entries will indicate stop-loss levels.
