Binance Coin price broke important level! BNB/USD analysis.
Binance Coin is located just above the very strong Support/Resistance level, which was created on the 11th of March.
At the same time, we got over the formation of the triangle. At the moment, we have the opportunity for a Long trade. Simultaneously the price is above EMA 200 daily.
On the other hand, we know that the formation of a triangle often has so-called "Fakeouts", which means that there will be a false breakthrough and the price will fall again.
Now we need to find out, on lower time frames, what's going on inside the candles and decide whether there is a good opportunity to buy or sell.
Today I will discuss all the essentials and based on our Price action strategy we will look for a suitable place to enter. Of course, all the conditions of our strategy must be met in order to increase the probability of a successful trade.
At the same time, we got over the formation of the triangle. At the moment, we have the opportunity for a Long trade. Simultaneously the price is above EMA 200 daily.
On the other hand, we know that the formation of a triangle often has so-called "Fakeouts", which means that there will be a false breakthrough and the price will fall again.
Now we need to find out, on lower time frames, what's going on inside the candles and decide whether there is a good opportunity to buy or sell.
Today I will discuss all the essentials and based on our Price action strategy we will look for a suitable place to enter. Of course, all the conditions of our strategy must be met in order to increase the probability of a successful trade.