Short
Day Trade On BNB With 14% Profit
If the price falls back to around the $298 area, it should bounce back to around $330, which was a previous larger scale Support/Resistance. The $298 (green line) was obtained from a shorter time scale (15 minutes). Also based on what happened in the past (look at the bounces of the green line a few days ago), this is an opportunity to make a short-term profit. These values also get some support from the Fibonacci Retracement.
You can switch to the bar chart and check fluctuations beyond the close price, and place your buys below $298 and sells above $330. I wouldn't be too greedy on the sell price if you're looking at this as a day trade.
Please note that the overall trend is still down, and I do believe that we will reach lower prices (in the area of $200's).
You can switch to the bar chart and check fluctuations beyond the close price, and place your buys below $298 and sells above $330. I wouldn't be too greedy on the sell price if you're looking at this as a day trade.
Please note that the overall trend is still down, and I do believe that we will reach lower prices (in the area of $200's).
Order cancelled
Looking at the evolution over the past hours, it doesn't look like a bounce back will happen. I had a BUY order set to $291, which I already cancelled. It's consolidating sideways, and the next fall I expect is to the $256 support.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.