Hi friends! The BNB is trying to breakout the trend line. After the 6% growth in a few bars, the price needs to gain strength and make a small consolidation under the trend line.
The targets: 1. $330-335 - first value area, local highs. 2. $354-361 - value area, big liquidity gap under it, so the price can easilly pump here.
Preconditions for the growth: + volume growth at the bottom means a lot of big players buy BNB to earn on price growth. + the price rise above big vaue area $296-305 which become the support for the BNB. + Bitcoin show the strength and starts pumping what help alts also to grow. + trendline squeeze.
Who will become "fuel" for this growth? Short traders, who opened trader in this consolidation expecting the dump.
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P.S. Personally, I open an entry if the price shows it according to my strategy. Always do your analysis before making a trade.
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