FieryTrading

🔥 BNB Bullish Triangle Break-Out

Long
BINANCE:BNBUSDT   Binance Coin / TetherUS
BNB is amazing us again with a break-out to the bullish side. Whereas the triangle is a classical bearish pattern , the break-out is a bullish one this time, helped by the strong reversal of Bitcoin . The price action of the current move is strong enough to potentially rival the previous ATH at $345. Risky, but doable.

Before entering this trade wait for the price to close above the Entry line. Higher time frames yield a higher predictive power.

On the chart I’ve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs and round numbers. Do your own due diligence.

Happy trading!
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Comments

great job mate and targets will soon reach
+1 Reply
FieryTrading MMBTtrader
@MMBTtrader cheers bro, thanks🙏🔥
Reply
And look what happened today - BTC fall so also fall ETH and BNB. But i notice that correlation with eth did not change as in previous BTC problems. BNB falls right after BTC - ETH follwo later. When BTC fall in the past ETH fall even harder - BNB follows later. So BNB gets 5% or more only because of that. And if you mada a swing in this time you can easily get 5-10% more BNB in one day.
What do you think is gonna happen - if you look at the chart today?
And from me: Outstanding analysis as always :)
Reply
@natko, as of now, BTC seems to have found a local bottom around 47k. Would be great if it would continue to go up. Preferably 50k.
Reply
The point of purchase is (Entry 265 $), the selling point is R1 (300$), R2 (340$). I got it right, right?
Reply
FieryTrading Nattapong-Takul
@Nattapong-Takul, exactly
Reply
I buy in 265$??
Reply
@Wolfdz44, as soon as the price closes above 265, yes. 🚀
Reply
what happened now dr?
Reply
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