Long

Good setup for BNB

Updated

I see a potential long trade for BNB again. On the left we see an H&S in the making, indicating more downwards movement. Price broke the neckline today and jumped back in again. This might be a big signal that this H&S might fail and that we see a contrair movement. And the bullish wedge we can see on the left, gives the failure of the H&S a bigger chance.

Note

Still moving within the wedge, it broke out but got pushed back in again. It's not a bad sign but it's nothing good as well :)
So actually nothing has changed yet. Think we should see a breakout withing the next 24H.

Note

Support broke, seems the H&S has been activated. Trade went wrong, if BNB could be shorted i would probably do it, but it's not possible. The trade was risky because of the H&S, but still i am a bit surprised the support broke. Assuming the target of the H&S will get reached, it would suggest like something is wrong with the BNB exchange?

botje11

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