P_S_trade

BNB 12h. Why there is a big chance to see $16.5?

Short
BINANCE:BNBUSDT   Binance Coin / TetherUS
BNB remains one of the strongest coins to hold up well under the current BTC dominance. If we look at how other coins and tokens fell yesterday, when BTC tested the lower limit of local consolidation, the BNB stability is impressive.

After yesterday's fall by 3%, BNB buyers managed to renew the local high. Most of the other coins failed to even organize a decent rebound.

However, is the BNB local trend from 23 September really strong enough to renew the previous high $33.38?

More than a month has passed since the publication of one of our first BNB ideas.
And we are back to the target near the level $16.5.

With a very high probability, a rather rare "Adam and Eve" pattern is forming on the BNB chart.

So far, all the necessary conditions are met:
- the first top is sharp with spikes and high volumes
- the second top is U-shaped with low volumes
- the difference between the tops is not more than 5%
- distance between tops 3-7 weeks (on the chart 5 weeks)

This formation work out:
- the first possible stop is the level $25
- formation confirmation - the breakout the level $22 down
- a rebound from level $20 upwards and testing the level $22 for strength from below
- trade and the final fall to the level $16.50.

Cancellation of this formation, the price fixing above $33. 40 .

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Comments

i doubt to be correct
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@alwinn,
We are glad that our readers have their own situation vision. Please share it!
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alwinn alwinn
@P_S_trade MA and stock stick at daily and weekly shows an up trend
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good job thanks
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