#Binance #BNB - Daily Chart and many possible price paths
Updated
I've been following #BNB for a while but I haven't shared a TA about it until now.
Currently, it's undergoing a correction and this TA will try to pinpoint not only the levels where price may land but when it should do so. To mark that I use the round marker.
-The green markers are probably a good supports (buy),
-The orange ones are probable targets (sell),
-and the white ones are neutral ones that, depending on the trend can act as support or target.
Here's a close up for this initial daily chart
I've spent some time doing this TA and actually had fun picking the landing spots for the markers and then adding the probable path that made (or will make) sense relative to the markers...
Since it's a daily chart, it will take quite a while to see how this will play out. Personally, I'm expecting a correction to that lower level before any really trend swift, so guess I'm currently short regarding investment strategy for #BNB.
Keep in mind that all of this is an exercise and is not financial advice!
Currently, it's undergoing a correction and this TA will try to pinpoint not only the levels where price may land but when it should do so. To mark that I use the round marker.
-The green markers are probably a good supports (buy),
-The orange ones are probable targets (sell),
-and the white ones are neutral ones that, depending on the trend can act as support or target.
Here's a close up for this initial daily chart
I've spent some time doing this TA and actually had fun picking the landing spots for the markers and then adding the probable path that made (or will make) sense relative to the markers...
Since it's a daily chart, it will take quite a while to see how this will play out. Personally, I'm expecting a correction to that lower level before any really trend swift, so guess I'm currently short regarding investment strategy for #BNB.
Keep in mind that all of this is an exercise and is not financial advice!
Note
Down it goes...
Note
4h chart update... near 1st marker as expected.
Note
And binance lost support at that support level... taking to lower levels
Note
and a touchdown on a lower level.. probable bounce from here to resistance zones. It will hit probably the 1st zone, them back down... no fuel to reach 2 resistance zone.
Note
The drop happened faster than expected... Price may rise a little towards the nears marker...
Note
support at 14488 tested earlier than expected. Bounced back up to expected marker... personally to me, looks like it's going to dip again soon enough
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