"Make or Break" For BNB
Updated
BNB has been forming a triangle and has reached the end. It has tried to break out up twice but failed showing that there is a lot of selling pressure meaning it could fall. I am placing a short position once we receive validation below the triangle, which would be a touching of 34 EMA . That is when I will enter a short position with a stop of 265$ and a take profit of 150$, which is where I can see a consolidation. I believe that we have seen the local top, but to be on the safe side will not hold this position into April.
Note
Prediction is unfolding perfectly, Update: will hold into April, 55 EMA will be a crucial point, take profit of 150 is too extreme as that would effectively end the bull run, 182 is new take profit as that is where we found support on the 23rd of Feb
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.