Hello, traders!
Today will speak about BNB, one of the most powerful Altcoins. Looking at the chart, I can’t resist the temptation to make an analysis for you. So, here we go, without extra words, just have a look at the chart.
As you can see, BNB has already retraced after a huge fell. However, it has a potential to go even higher, cause the reject from the buyer zone (0 Fib) was very sharp. Judging by even this, we can make a conclusion that bulls are more powerful in this cycle. However, lot’s of factors can correlate with BNB price, thus dump is possible too. Well, let’s just sketch some scenarios.
Scenario A
The price will break up the 0.5 Fib level, consolidate in «golden pocket» and probably, break the triangle above.
Scenario B
Some kind of events like tweets of «geniuses» LMAO or just money outflow can easily dump the price. However the probability of going lower than 0.236 Fib is extremely small.
Scenario C
Sideways or choppy market. Nasty period for any trader but cannot be written off. Thus, be ready and for such kind of price action
I hope guys my thoughts inspire you to trade more and boost your skill every day. We’ll move together to our common cherish dream - come up richer and more successful. Have a nice trading day, ladies and gentlemen!
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
Today will speak about BNB, one of the most powerful Altcoins. Looking at the chart, I can’t resist the temptation to make an analysis for you. So, here we go, without extra words, just have a look at the chart.
As you can see, BNB has already retraced after a huge fell. However, it has a potential to go even higher, cause the reject from the buyer zone (0 Fib) was very sharp. Judging by even this, we can make a conclusion that bulls are more powerful in this cycle. However, lot’s of factors can correlate with BNB price, thus dump is possible too. Well, let’s just sketch some scenarios.
Scenario A
The price will break up the 0.5 Fib level, consolidate in «golden pocket» and probably, break the triangle above.
Scenario B
Some kind of events like tweets of «geniuses» LMAO or just money outflow can easily dump the price. However the probability of going lower than 0.236 Fib is extremely small.
Scenario C
Sideways or choppy market. Nasty period for any trader but cannot be written off. Thus, be ready and for such kind of price action
I hope guys my thoughts inspire you to trade more and boost your skill every day. We’ll move together to our common cherish dream - come up richer and more successful. Have a nice trading day, ladies and gentlemen!
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
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t.me/skyrexio
x.com/skyrex_io
AI trading bot for Binance, Bybit and OKX:
app.skyrex.io
Safe. Automatic. Non-custodial. Profit sharing based. Learn more at skyrex.io