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.
Trade closed: stop reached
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Market has formed a pennant and stopped out. My future entries will indicate stop-loss levels.