Forecasting the Future Price Action of #BNB $1500 USD possible
Cryptocurrency has been enjoying some nice gains of recent (see my posts regards TOTAL 2) which is enjoying nice upside.
Hello & Welcome Back To 420 Investments Today we will be taking a look at Binance Coin. (Like + Follow for more indepth Analysis of the market)
Daily Time Frame Analysis -
Retested Macro Fib Levels 0.618 + 0.38 Fib ✔️ (Taken From current swing high to low) + (Swing Low to swing High)
Formed a Bullish Falling wedge and is enjoying a nice breakout ✔️
We Can see BNB is approaching a weekly order block resistance, where there is clear resistance, (I will be watching for this major level to be flipped into support)
If BNB is able to flip this next level of resistance into support, then we will see it run to the next order block resistance $420-$520.
Using the Fibonacci extended targets we can see we have confluence of 2 golden fib targets of 0.618 + 1.618, giving us price targets of $1500 USD + For BNB.
The Weekly Candle Sticks show that BNB formed a reversal pin into the 3 week order block support while also retesting the breakout of the falling wedge. Thus Adding Further Confluence that we will indeed see higher prices for BNB in the future. (see image below for reference)
Now that we have a trade plan in place as BNB is approaching resistance, we can now look for BNB to flip this major level of resistance into support before giving confirmation price will indeed head higher.
I will keep us all updated further on this chart, once BNB has given confirmation that this major level of resistance has been flipped into support.
#BNB
#BTC
#CRYPTO
Hello & Welcome Back To 420 Investments Today we will be taking a look at Binance Coin. (Like + Follow for more indepth Analysis of the market)
Daily Time Frame Analysis -
Retested Macro Fib Levels 0.618 + 0.38 Fib ✔️ (Taken From current swing high to low) + (Swing Low to swing High)
Formed a Bullish Falling wedge and is enjoying a nice breakout ✔️
We Can see BNB is approaching a weekly order block resistance, where there is clear resistance, (I will be watching for this major level to be flipped into support)
If BNB is able to flip this next level of resistance into support, then we will see it run to the next order block resistance $420-$520.
Using the Fibonacci extended targets we can see we have confluence of 2 golden fib targets of 0.618 + 1.618, giving us price targets of $1500 USD + For BNB.
The Weekly Candle Sticks show that BNB formed a reversal pin into the 3 week order block support while also retesting the breakout of the falling wedge. Thus Adding Further Confluence that we will indeed see higher prices for BNB in the future. (see image below for reference)
Now that we have a trade plan in place as BNB is approaching resistance, we can now look for BNB to flip this major level of resistance into support before giving confirmation price will indeed head higher.
I will keep us all updated further on this chart, once BNB has given confirmation that this major level of resistance has been flipped into support.
#BNB
#BTC
#CRYPTO
Comment:
#BNB At Resistance! We now await confirmation for this level to be flipped into support.
420Fam