I have been daytrading this long recently and had a long swing position. I just sold everything and am looking to get in at a lower price or trade other things like eth.
The reason is it looks like it has an unstable bearish leading diagonal building. It looks like it might have one last leg up but then it is very likely to cut downward through all the resting stops that have built up below the triangle.
I think BNB has run its course for the time being, once it comes back to the bottom of the pitchfork around 17 or 18 I will be looking for longs again. Right here it has a very bad RRR in either direction. Look for trades on other cryptos unless you're holding this for a very long term. (...which is actually not such a bad idea)
The reason is it looks like it has an unstable bearish leading diagonal building. It looks like it might have one last leg up but then it is very likely to cut downward through all the resting stops that have built up below the triangle.
I think BNB has run its course for the time being, once it comes back to the bottom of the pitchfork around 17 or 18 I will be looking for longs again. Right here it has a very bad RRR in either direction. Look for trades on other cryptos unless you're holding this for a very long term. (...which is actually not such a bad idea)
Comment:
Decreasing ATR makes me not want to trade this for a bit
