Like the R:R for a long here.
Gap Filled on the Daily, right in the OTE Fib Zone (.62-.79), rejected at HVN on volume profile.
Community sentiment is "strong sell", all sorts of FUD in the news... what do you do when the majority is calling it one way?
Buy, Buy, Buy.
Personally loving this setup on BNB, provided BTC takes a breather. ($12,200 as of writing)
Price trending above June's Open, broke May's High, retesting break currently (roughly around the 0.5 Fib).
Could see a wick into lower fib levels so layering a few buys there may prove most fruitful. However, I would not underestimate how quickly price can escape you...
Pay close attention the next few weeks. I think we're seeing a transition from bear to bull, but the long doesn't have to be forced.
There looks to be plenty of trapped buyers from the descending triangle area that are selling off near their break-even. Also note the near 100% buy volume area just to make it to this level (smart money pushing price up in an...