🔥 BNB New Bearish Triangle
My recent BNB triangle was a productive trade. This trade is essentially a copy of that trade. For reference:
The price failed to breach the triangle, therefore the short term out-look is again bearish for BNB. Also, Bitcoin is seemingly reversing again towards the bearish side. Both these occurrences have a bearish influence on BNB.
On the chart I’ve marked two potential areas of support, S1 and S2. These areas are based on recent swing lows and round numbers. Do your own due diligence.
Happy trading!
The price failed to breach the triangle, therefore the short term out-look is again bearish for BNB. Also, Bitcoin is seemingly reversing again towards the bearish side. Both these occurrences have a bearish influence on BNB.
On the chart I’ve marked two potential areas of support, S1 and S2. These areas are based on recent swing lows and round numbers. Do your own due diligence.
Happy trading!
Trade closed: stop reached:
Update on this chart:
The triangle I drew earlier didn't hold, BNB hit the stop-loss so therefore this specific trade is done. Although I'm still relatively bearish on BNB, if BTC turns bullish in the coming days, expect BNB to follow as well, potentially moving back to ATH.
I'm currently looking at this chart. The bearish triangle is still there:
The triangle I drew earlier didn't hold, BNB hit the stop-loss so therefore this specific trade is done. Although I'm still relatively bearish on BNB, if BTC turns bullish in the coming days, expect BNB to follow as well, potentially moving back to ATH.
I'm currently looking at this chart. The bearish triangle is still there:
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