BNB: Recovery and Possible New Uptrend
BNB has completed 5 waves (look at BTC hourly, it’s much clearer) and now seems to be forming a double bottom. MFI is also showing “strong buy”.
I placed my long entry at 400, tp 417 and sl at 391.7 (R/R 2), a little bit below the recent Low.
I placed my long entry at 400, tp 417 and sl at 391.7 (R/R 2), a little bit below the recent Low.
Comment:
It has gone sideway for a while and looks like it’s in Wyckoff accumulation phase. I closed my long position at 406 and am staying out watching, may enter again at 400 or 393.