BNB - strong buying pressure at current price level
BNB is in good position for short or even longer term trade. 3D chart is used for analysis because of better visibility of longer time period.
With buying pressure present at current support level and stop loss just under recent lows, risk/reward ration is very favorable.
Ever since big pump and expected dump after it, BNB is creating higher highs and higher lows.
Shorter term price action created descending triangle. Usually it is pattern with bearish outcome, but here considering BNB strength in recent market uncertainties and strong buying at current level, I lean more towards the bullish scenario.
For short term I'm planning trade up to the upper trendline and when it is break another one to previous ATH level.
Long term holding chunk of BNB isn't part of this trade.
With buying pressure present at current support level and stop loss just under recent lows, risk/reward ration is very favorable.
Ever since big pump and expected dump after it, BNB is creating higher highs and higher lows.
Shorter term price action created descending triangle. Usually it is pattern with bearish outcome, but here considering BNB strength in recent market uncertainties and strong buying at current level, I lean more towards the bullish scenario.
For short term I'm planning trade up to the upper trendline and when it is break another one to previous ATH level.
Long term holding chunk of BNB isn't part of this trade.