$BNB/USDT 2D (#Bybit) Falling broadening wedge on resistance

Binance Coin (a.k.a. BNB Chain) got rejected on daily 200MA and does not seem to be able to break-out quite yet.
Let's hedge our holding with a short position without leverage, entering on the possible bearish retest!

Current Price:
303.00

Entry Zone:
309.95 - 339.85

Take-Profit Targets:
1) 248.80
2) 209.10
3) 172.45

Stop Targets:
1) 386.00

Published By: @TradingOn

Risk/Reward= 1:1.25 | 1:1.9 | 1:2.5
Expected Profit= +16.26% | +35.64% | +46.92%
Possible Loss= -18.81%

Tags: #BNB #BNBUSDT #Binance #BnbChain #BuildNBuild #BinaryFinance #Payment #SC #CEx #CeFi #DEx #DeFi #BSC

Websites: www.binance.com www.bnbchain.world

Contract:
#Mainnet

Comment:

EDIT:
Expected Profit= +23.42% for TP1

Fib. Retracement= 0.5 | 0.786 | 1.117
Margin Leverage= 1x
Estimated Gain-time= 3-5 months

Trade closed: stop reached:

SL hit with -18.81% and -1R

Binance Coin broke out of the broadening wedge, regained support and headed straight to 200MA (purple).
Now RSI is overbought, we'll probably see a pull-back towards 100EMA (orange) before more up-trend!

#BNB #BNBUSDT #BnbChain #Binance #BuildNBuild #BinaryFinance