BNB holding trend after rejecting from $31 resistance for the first time, healthy pullback.
Now trying to regain $31 (1st TP) before making its move up to $35 (2nd TP).
Fundamentals surrounding Binance Coin could provide the needed momentum for BNB to retest or break the previous all-time high value of $39. BNB's path to a new all-time high will not be overnight...
Such formations usually work well.
But, sometimes after a huge accumulation, it bounces off the level with a powerful impulse.
That's why I use the word "possible".
You should use the predictable risks for each trade and open your position only after the confirmation.
Push like and write your comments.
We will catch the best trades together!
updating the movements of my BNB still using the same analysis. In this case there will be a short swing in BNB. stable derivative level 30.17 - 29.62. and if the note can go to the price 31.xxx
BNB / USDT
in my analysis where this time I combine the event and the size of the trade. within limits can pay attention to the guidelines that I have made. but did not rule out the possibility to fall at the price of 28.xx.
TP: 29.30-29.62, 28.67.
OP: 30.10-30.66 32.xxx
BNBUSDT is retesting the weekly channel (the red one) and the price is creating a triangle.
IF the price gains strength, According to Plancton's strategy, we can set a nice order
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure...
BNB has recently fallen out of its long, dynamic upward support and it has now become resistance. It also has another 2 resistances. Coupled with the lower lows and lower highs, I'm expecting a downwards trend, though I'm not certain of what targets yet.
Nearing support. RSI below demand line with some buying.
Needs some time to establishing the trading range. Looking for buyers off of support and sellers off of resistance. DSont chase. Listen to evidence (volume).
To be determined.
BNB is in a minor correction and could stop at the 29$ zone.
BNB has a high chance of going up from this zone because in the past, BNB has had a hard time breaking this zone, and it was successful at the 4th break. So this zone is now very strong support for BNB and BNB will also need a lot of time to break down and go down (if happens).
The target for BNB will be...
BNB is likely to be in Correction Flat Weak B. Honestly, there are other possible ways. if wave B retraces more than 1.00. the wave C target might be changed to be lower (when it was Strong B, Running Flat, or Normal B.)
The price bounced from the support zone formed by SMA50 and support level. MACD and RSI confirmed the price reversal. It gives us a new buying opportunity.
Stop orders should be placed below the local swing low. The profit target is key resistance. Risk per trade must be no more than 5% of the capital.
The previous trade, which we opened using the same setup,...
Hey friends hope you are well and welcome the new update on Binance coin.
As in my previous post on BNB, I showed that the priceline of BNB coin has formed different harmonic patterns in US Dollar market and the Bitcoin market as well. Now finally by the grace of Allah the most high the price action has moved up and surged more than 98% and both ideas are...