BNB has been dropping since 1-Apr after a crazy rally from Nov-18.
The price broke previous support as shown in the bright red zone and now fighting to break back up.
From the daily cloud we can see a bounce from the Kijun-Sen which is a good sign.
If it cannot stay above previous support and break down the Kijun-Sen I am aiming at the ABC correction to around...
On the 4 hr we can see a rising wedge and also bear div on the RSI which suggest a dip is possible.
The green zone around 5040 show some support.
Looking at the fib we can see .382 and .5 at about 4760 and 4600 (which is also the bottom of the cloud).
I am putting bids around the green zone and also .382 and .5 to buy the dip if it comes.
Hope you like my content...
Price broke out of cloud on 2-Apr, retested top of cloud on 3, 4-Apr with bullish cloud and lagging span above cloud satisfying all long condition which was a good long entry.
Same observation for ETHUSD.
It was also a good edge-to-edge trade.
BTC dropped from all time high 19891 to around 15600 area which almost touches the top of the cloud.
The body of the candles sit on the 50% fib region which is also the Kijun-sen (red) line acting as a huge support.
RSI, Stoch and macd also shows upward motion which indicate possible continuation of uptrend.
stop loss should be place at Kijun-sen (red) line.