BNB: BOUNCING BACK FROM THE SUPPORT.
Updated
Welcome members to this update on BNB/USD
If you are viewing my post for the first time then do not forget to like and follow. I share updates on the crypto market including margin trading, futures, spot, and scalping. All ideas are my biased opinion and I invest at my own risk. I don't force anyone to buy or sell, I simply share my ideas absolutely for free and it is your sole decision whether to trade on them or use them to understand the market.
BNB is under the falling wedge pattern and it has exactly bounced back from the lower supporting trendline. It is possible that this bounce could lead the price back to the $370 to $380 range.
Here's a strategy I am using.
1st buying range- $300 to $310
SL: $290
Target: $330 to $340 (If the price gets rejected).
2nd buying range- $250 to $270.
SL: $235.
Target: $320 to $340.
Note: This trade setup is on a daily timeframe so do not consider this as a short-term or scalping trade. This trade will be on spot and if you want to use leverage then make sure it is either 2x or 3x.
If you are viewing my post for the first time then do not forget to like and follow. I share updates on the crypto market including margin trading, futures, spot, and scalping. All ideas are my biased opinion and I invest at my own risk. I don't force anyone to buy or sell, I simply share my ideas absolutely for free and it is your sole decision whether to trade on them or use them to understand the market.
BNB is under the falling wedge pattern and it has exactly bounced back from the lower supporting trendline. It is possible that this bounce could lead the price back to the $370 to $380 range.
Here's a strategy I am using.
1st buying range- $300 to $310
SL: $290
Target: $330 to $340 (If the price gets rejected).
2nd buying range- $250 to $270.
SL: $235.
Target: $320 to $340.
Note: This trade setup is on a daily timeframe so do not consider this as a short-term or scalping trade. This trade will be on spot and if you want to use leverage then make sure it is either 2x or 3x.
Trade active
BNB/USD Profit Update:1st buying range is $300 to $310.
Target $320 to $340 achieved. ✅
Closed 50% and the rest 50% are still on hold.
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