LegionQ8

Binance Coin can exit from pennant and rise to 270 level

Long
BINANCE:BNBUSDT   Binance Coin / TetherUS
Hello traders, I want share with you my opinion about Binance Coin. Looking at the chart, we can see how the price a few time ago traded in a range, where it two time fell to the buyer zone, which coincided with the support level. In a second try, BNB rebounded from this zone and rose to the top part of the range, after which turned around and in a short time declined back, thereby exiting from range and breaking 297 one more time. Then the price started to rise in an upward channel, where soon, BNB rose higher than the 297 level and later made a correction movement to this level, which coincided with the support line of the channel. Next, the price bounced from this line and continued to move up in the channel to the resistance line, but when it reached this it, BNB rebounded, entered to the pennant, and made a strong upward impulse to the resistance line of this pattern, thereby exiting from the channel and breaking 350 level, which coincided with support area. But a not long time ago price rebounded from this line and declined to support area. At the moment, BNB trades near the resistance line of the pennant and I think that the price can fall to the support area and then continue to move up, thereby exiting from the pennant. For this reason, I set Take Profit at the 270 level. Please share this idea with your friends and click Boost 🚀

🔷Join my telegram channel for free - t.me/legionq8

💰About Premium Signals Group all details you can see here - t.me/legionq8/812
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.