In an attempt to avoid side action, I'm watching what BNB does at 287.3
If it's a bounce on 287.3, I think BNB will make a run for 302.5
If BNB breaks below 287.3, retests and rejects, then I think it'll be a decent retracement targeting 273.9
At the moment there are some Bear signs, but the volume and volatility just isn't there.
If Short setup gets confirmed:
Short Entry around: 287.3
Short Target #1: 273.9
273.9 is a strong level, if the price reaches it, I think it'll bounce rather than break below.
This is my Thesis, targets are purely hypothetical based on my analysis.
This is NOT Investment and/or Trading Advice.
Happy Trades!
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Comment:
If you managed to catch an entry around 287.3 (I haven't, was busy with another trade), 273.9 is a level to expect a reaction, set an alert when the price crosses it, just extra vigilance.
Comment:
As per the original idea, BNB almost reached the short target of 273.9 (actual Candle Low was 274.2), that's about 0.1% MOE, which is pretty great.
Price bounced towards 302.5, an untested level from the original thesis.
Overall, I consider this a successful setup, which gave a chance to enter a Short and a Long trade relying on the charted targets.
Price bounced towards 302.5, an untested level from the original thesis.
Overall, I consider this a successful setup, which gave a chance to enter a Short and a Long trade relying on the charted targets.
