Hello everyone, let's look at the 4H BNB to USDT chart, as we can see the price has been moving in a sideways trend channel for a long time and currently we can see the price moving near the upper border of the channel, which is staying just above the local uptrend line.
Let's start by setting goals for the near future that we can include:
T1 = $594 - $611
T2 = $635
AND
T3 = $662
Now let's move on to the stop loss in case of further market declines:
SL1 = $570
SL2 = $542
SL3 = $519
AND
SL4 = $492
When we look at the RSI indicator and the STOCH indicator, we will see that there is still room for a continuation of the current downward movement.
Let's start by setting goals for the near future that we can include:
T1 = $594 - $611
T2 = $635
AND
T3 = $662
Now let's move on to the stop loss in case of further market declines:
SL1 = $570
SL2 = $542
SL3 = $519
AND
SL4 = $492
When we look at the RSI indicator and the STOCH indicator, we will see that there is still room for a continuation of the current downward movement.