Just a beginner's view. BNB/USDT has successfully breaks out from its major bullish flag a few hours ago and is currently forming a minor bullish flag. If the breakout happens, the closest target is at 340. Otherwise if it breaks down from the channel, it could go back to 240. We are currently at a critical point in the bottom of the channel with a chance of forming dragonfly doji or hammer, a very great candle that indicates a strong upside pressure from the buyer. Suggestions are welcomed. Thanks!
@behrouzme1220401, assuming it hits 340 and there is a sign of reversal (which is more likely), you can sell, even though there is also a chance for it to breakout from 340. But again, it depends on your personal trading plan.
wOOpaLooMpa
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It's currently at the support area right? It might fly or break down... What about the volume confirmation? Will it fly likely?
dionisiusdh
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@wOOpaLooMpa, Yess.. as of now the price is dropping but the transaction volume is also decreasing overtime. False breakdown might happen when the price drops below the channel with small volume. To fly / breakout from the channel it needs a sudden spike of volume and that's what we're currently looking for.