BNB has taken the more bearish path from our last review (see linked idea). In that "bearish" case we presumed a retreat to Trend Support before BNB would gain bullish momentum again. While I still think a bounce from Trend Support is possible, there's a big *but* to consider: Weekly Bearish Divergence. With the way I trade, Divergence is the primary indicator I look for. Normally I just have to pay attention to the Daily and 4-hour divergences because they tend to playout regardless of what the weekly charts are doing. However, weekly bearish divergence can add significant downward volatility and pressure as bigger players start taking profits and slowly unwinding from their long positions.
In short, be cautious here. I'm still looking for a small entry when I see Daily Bullish Divergence, but I will be taking profits rather aggressively.
Good Luck
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These are my personal views and not financial advice. Please do your own research before investing.
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In short, be cautious here. I'm still looking for a small entry when I see Daily Bullish Divergence, but I will be taking profits rather aggressively.
Good Luck
----------------------------------------------------------------
These are my personal views and not financial advice. Please do your own research before investing.
I'd love to hear your thoughts, ideas and feedback. Feel free to Comment and I'll try and get back to you quickly.
If you appreciated this analysis, consider Liking or Following. Thanks!
