BNT is ranging since May 2021. Support that built at $2.66 on June was tested again one month later in the form of a fakeout. In January 2022, price passed through $2.66 and found strong resistance in the high demand zone between $2.30 – 2.08.
In the 4H LTF, BNT was accumulated between 22 Jan. and 05 Feb. That in conjunction with the long tail candlesticks - in...
this is my idea. Breaks the downward channel, moves upwards similar to previous movement then higher.
Orange ovals are an example.
Purple ovals shows the market tapping off resistance multiple times.
i believe we have bottomed out.
If not keep in mind it may retrace as low at $2.50 but has a lot more potential to gain.
The previous transition through Fibonacci levels shows bullish activity as it passes through
Price is currently at another transition point which may also produce bull activity if the trendline hodls, I am acknowledging both scenarios.
The major trendline merged with another line produces a rising wedge, which is a bearish pattern
Also the potential Head and...
SUMMARY: LONG BNT, in the final impulsive wave with a Target $25
Breaking out of the accumulation zone and slow forming Higher Lows.
Above the 50,100, 200 EMAs.
On track to recover the 200 MA.
Still room on the RSI and Stoch for further upside.
BNT is seeing a healthy surge of demand. I took an early entrance yesterday at 3.4552 and we watched it run to the Fibs. It's amazing what a little volume spread analysis can reveal when Bitcoin stays on its meds.
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Understand that it can reach target within the next few years. May not hit this year. We have to go thru many fib levels before breaking out! But who knows when.
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ONCE A STOCHASTIC RSI CROSS HAPPENS ON THE...
BNT looking to break this 60+ day bull flag to the upside. Couple targets from previous highs from the last top and the consolidation over this time frame.
Flips those levels to support and you are looking at testing the ATH of $10.72.