💎 BNT has certainly piqued our curiosity. After a robust surge, breaking past the supply accumulation zone, BNT faced a setback at a formidable supply region, leading it to swiftly retrace to the demand zone between $0.5 and $0.48.
💎Following this retracement, BNT showcased bullish candlestick patterns, hinting at a potential upward continuation and successfully surpassing nearby resistance. For potential entry points, it's advisable to monitor BNT's behavior upon retesting the support, preferably on shorter time frames like 1h-4h.
💎 On the flip side, if BNT exhibits a false breakout and settles below the current support, it might retrace back to the aforementioned demand zone. This zone plays a pivotal role in preventing BNT from slipping back into its accumulation phase. However, if BNT fails to hold its ground within this demand zone, there's a likelihood of it descending further towards a more substantial support region.
Great info, awesome cheat sheet! Thank you for sharing!
RLinda
â‹…
Great publication. You can see that you have worked through several timeframes, the older timeframes also support your arguments. Thank you for your work!