Schliemann

Binance Coin - Continue to buy dips

Long
BINANCE:BNBUSDT   Binance Coin / TetherUS
Hi everyone,

Another analysis for BNB. The previous one worked well, could sell a decent amount above 35 USDT. Now we are seeing a retracement, which I think may find support around the 618 Fibonacci level, which also is near a trend support line for this pair.

The price went above the red cloud and now will probably find support on the green one . However, I am expecting, or waiting, for the MACD to show a curve like the one I draw in white, and some weakness of bears from its histogram.


Buy entry: 31.65

TP 1: 34.35
TP 2: 36
TP 2: 38



SL: 29.46


*Not financial advise, just sharing my ideas :)

Feel free to give your feedback/opinion. Thanks for reading!
Comment: Please excuse the typing error. TP3 : 38
Trade active
Comment: TP 1 HIT
Comment: TP 2 HIT
Trade closed: target reached

Comments

Good job with chart.
+1 Reply
The price reacts very strong in connection to the Trendline. Keep up that good work.
+1 Reply
Better do not mention your stop-loss here. You are giving an extra information to the smart money to eat dumb money. I suspect that the price hits your stop so easily as BNB has good fundamentals and institutional traders will not let the price to revert until they hit all the stoploss orders
+1 Reply
Schliemann karthiksai
@karthiksai, sometimes I thought about that, you are probably right, but I don't think I'm important, just a tiny small fish.
+1 Reply
karthiksai Schliemann
@Schliemann, Yeah they are gonna do it anyway whether you mention it or not
Reply
In fibs we trust lol . $31.65 was about spot on.
+1 Reply
Schliemann WinstonWolf
@WinstonWolf, Indeed haha, let's see if it continue developing a nice comeback. Thanks for your comment!
Reply
Here is the target price
Reply
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