BNBUSDT - A false breakout would have reversed already.

BNB is trading at 23.2768 at the time of writing this post. The breakout happened at 21.8 near the 22 day ema and it ascended to 24usd quickly in just 8 hours. If it would have been a false break out if it reversed already and gone down below 22. Because in a false breakout as soon as the market touches or crosses the resistance, it reverses as swiftly as it ascended. BNB is holding above 23 pretty decently which indicates that there are buyers who are willing to buy at the higher price levels.
I entered the breakout at 22.8 after the price retested the 22.5 support in the 15 min time frame and resumed it rally. I was pretty cautious at the beginning looking for possible reversal at 24usd resistance. It just pulled back(not a reversal of breakout).
Also observe that the impulsive wave is short lived because it is its nature. It is followed by long period of consolidation. Those who didn't enter the trade can enter it after a breakout of 24 usd resistance after the market retests it on a lower time frame like 5 min or 15 min.
Also to note is that BNB is the only coin whose market fundamentals are so strong. Please like the post if my analysis looks good. It will boost me to make updates to the post. Cheers!!

Comment:

I am also trading ATOM and giving live updates of my analysis. Do check it out

Trade active:

BNB is making higher highs and higher lows into the 24 usd resistance. It is building up near the resistance. Huge potential for break out of it.

Comment:

Trade active:

There were times when I always used to be one of those sellers who sold at the points similar to the those marked in the chart. Without proper education on markets, I was devastated.