BNB on fire: High risk, high reward opportunity
Price explosion with BNB following the announcement of the Binance Chain. Second wave retraced a little under 0.5 of the first one, and the rounded bottom appears to be getting ready for the third wave. If it goes to 1, it'll reach $12.5, which is a plausible scenario. Safer bet would be 11.42, at 0.618. At the moment of writing, it's at $9.96, which means a 25% rise, if it goes it's full potential.
Every dotted red line on my chart represents a zone of resistance where I expect it to take a breather before continuing on it's path upwards, so where I'll be shorting to buy a few dimes below in order to maximize return and minimize risk.
Remember this is a high risk/high reward opportunity. It's not a call to trade but if you do decide to get on board, be careful and prepare your stop-losses accordingly!
(See 5min chart in the updates for a close up)
Every dotted red line on my chart represents a zone of resistance where I expect it to take a breather before continuing on it's path upwards, so where I'll be shorting to buy a few dimes below in order to maximize return and minimize risk.
Remember this is a high risk/high reward opportunity. It's not a call to trade but if you do decide to get on board, be careful and prepare your stop-losses accordingly!
(See 5min chart in the updates for a close up)
Comment:
Five minute chart...
Trade closed: stop reached:
Poop