BNB/USDT 1H Chart Review
Hello everyone, let's look at the BNB to USDT chart on a one hour timeframe. As you can see, the price is moving above the local uptrend line.
After unfolding the trend based fib extension grid, we see that there is a support zone from $242.8 to $242 first, then support at $241.39, and then the second zone from $240.73 to $239.81.
Looking the other way, we see a resistance zone from $243.92 to $244.58, resistance at $245.12, and then a second strong zone from $245.69 to $246.46.
The CHOP index indicates that there is still energy for a move, the RSI is approaching the upper limit again, which may reverse the direction of the price, while the STOCH indicator has crossed the upper limit, which may result in a stronger downward move.
After unfolding the trend based fib extension grid, we see that there is a support zone from $242.8 to $242 first, then support at $241.39, and then the second zone from $240.73 to $239.81.
Looking the other way, we see a resistance zone from $243.92 to $244.58, resistance at $245.12, and then a second strong zone from $245.69 to $246.46.
The CHOP index indicates that there is still energy for a move, the RSI is approaching the upper limit again, which may reverse the direction of the price, while the STOCH indicator has crossed the upper limit, which may result in a stronger downward move.
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.
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.