BNB would increase 50% ?
BNB broke out its trendline. At the same time, the prices are quite close to the weekly trendline support (shown in chart).
OBV and CMF also broke its trenline which support bulls in short-term. What we need is the break-out of MFI to trigger a (short-term) rally.
It is possible that BNB will retest the trenlines but in my opinion BNB would go 50% up in mid-term. Certainly, this scenario depends on global marcros and BTC.
Here below a referenced set-up:
- Entry: DCA from here to trendlines
- Target: 50% (from here)
- SL: 15%
- Invalidation: 1W candle closing below the actual weekly trendline.
Trade closed manually
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Good news (linked to markets and tweeter) seems supporting BNB.Note
BNB has increased 14%.Note
BNB has increased 30% since entry. It's likely that it'll break the current resistance go up faster.
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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.