LegionQ8

Binance Coin can continue to decline to 565 support level

Short
BINANCE:BNBUSDT   Binance Coin / TetherUS
Hello traders, I want share with you my opinion about Binance Coin. Looking at the chart, we can see how the price a not long time ago started to rise in the upward channel and soon broke the support level, which coincided with the buyer zone. Inside the channel, BNB rose to a resistance level, which coincided with the seller zone, and soon rose even higher, breaking the 616 level. But later BNB turned around and made a strong impulse down to the support level, exiting from the upward channel and starting to trades in a triangle. In this pattern, the price soon broke the 565 support level and declined to the support line, but BNB at once turned around from the support line and in a short time rose to a higher support level, breaking it again. Next, BNB continued to move up and later reached the resistance level, after which rebounded and declined lower the support line, thereby exiting from the triangle pattern. Now price continues to decline and in my opinion, Binance Coin can make a small move up and then continue to decline to the support level. For this case, I set my target at the 565 support level. Please share this idea with your friends and click Boost 🚀

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