Binance Coin(BNB): Waiting For Breakdown Of 200EMA

BNB coin is one of the starts of this week where we are seeing a surge to breakdown of 200EMA. As we have previously tested this zone multiple times, we are looking for a full-scale breakdown from it, which would activate a potential short position for us.

Swallow Team

Comment:

After an amazing breakdown from the 200EMA price, BNB has had a fast and amazing recovery, going back to the upper side of the 200EMA.

As we had a small breakdown (from a zone that has been working well previously), we are seeing that the downward movement has not yet finished itself.

We are looking for any potential re-tests of upper zones but end game is still the same for us!

Trade closed: target reached:

And BNB has filled the target zone for us. It is not usual for us to do TA in a 2-hour timeframe, but we managed to pull it off. 6% of market price movement was captured!