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DU09
Sep 29, 2021 7:49 PM

BNB/USD - Wedge breakout! Can BNB sustain it? Long

Binance Coin / TetherUSBinance

Description

Binance Coin just broke out of this wedge in blue and now price is hovering just above the resistance turned support.

If we have continuation and BTC/ETH don't tank, then I can totally see BNB pumping some more in the next few days up to around $450 in the best case scenario.

The Daily indicators are curving up, therefore I'd not be surprised to have a nice little rally once this move is confirmed.

Medium term, BNB will continue to bounce around our major support and resistance. Don't see BNB breaking either of these unless the market leaders BTC/ETH have a breakout as well.

You could consider a long entry if we have continuation. If we're rejected then wait to hit support before buying.

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Comments
ArmanShabanTrading
Yes 👌🏼 We Have the same idea of BNB ... Good Work Here buddy 👍🏼 See my analysis too and tell me what you think
mehrhpm
Hi, should we wait for retesting of the trend line? thanks
DU09
@mehrhpm, ideally yes
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