Watching this bearish channel at the moment and looking for a new short entry, I missed the last one so going to wait for it to head back up to the top of that channel which also intersects with an EQ zone which could be some good resistance.
3:1 RR and small risk for me with my stop loss above the previous swing high, clearing the previous wicks.
I will manage...
I believe bnb will once again reach sub 200 with btc weakness couples with finances poor fundamentals. I personally think we need to tap the mountain of liquidity that under 210 and if we were to rise again this would need to be happen otherwise a lower High would form.
Just keeping things simple on this trade for now as this is one of my favorite patterns to trade on the short term break outs.
After a descent drop we often see a short term recovery, what i look to see here is if the bulls continue to make higher lows. Im not to fussed about the bears holding resistance still on a horizontal in fact I want that to happen to...
I've spotted multiple accumulations on BNB in the past days, but we've looked much worse than BTC (take a look at my latest idea). We've been rejecting the breaker block which will act as our OTE and we really like grabbing the 0.5 fib level which I've annotated using a magnet icon. I expect to take some profits there and then as price hits the golden...
divergence had formed yesterday now that price ah broke the trend line as well as retested on support with long wicks shows there's buying powers, I had my entry on the support(311.296) -start looking for entry's to meet the resistance at (340)
fırst up wave made 23% and the down wave moved 16%
second up wave moved 15% and the down wave 10.4%
from these numbers we found a pattern
1- 16/23 = 69%
2- 10.4/15 = 69%
3- 15/23 = 65%
4- 10.4/16 = 65%
5- 15*65% = 9.75%
6- 10.4*65% = 6.76%
7- 6.76/9.75 = 69%
from these numbers we fıgure out from first up wave and down wave as u noted the length of down...