BNB/USDT 1D Chart Review
Hello everyone, I invite you to a quick review of the BNB to USDT chart on a 1-day time frame. As you can see, the price broke the bottom of the upward trend line.
As we can see after unfolding the Fib Retracement grid, the price is approaching the strong support level of $540, but if this support is broken we will still be at the level of $490.
Looking at the second stone, again using the Fib Retracement grid, we will see the first resistance at $616, then the second one at $658, and then the price may increase to around $723.
Looking at the STOCH indicator, you can see that it was moving along the lower border, which may give an attempt to rebound the price.
As we can see after unfolding the Fib Retracement grid, the price is approaching the strong support level of $540, but if this support is broken we will still be at the level of $490.
Looking at the second stone, again using the Fib Retracement grid, we will see the first resistance at $616, then the second one at $658, and then the price may increase to around $723.
Looking at the STOCH indicator, you can see that it was moving along the lower border, which may give an attempt to rebound the price.
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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.