BNB USDT Failing Wedge
Updated
BNB is currently in the middle of consolidation inside of a failing wedge. Below it's current position, BNB should find strong support ~12.05. My suggestion would be to enter around 12.05 or on a wick that goes below this support. Set a stop loss below but be mindful of wicks that could stop you out.
The result of this trade (and all of crypto for that matter) largely depends on the health of BTC which is currently in a down trend. If BTC can find some relief, I think we'll likely see BNB breakout above the failing wedge.
The result of this trade (and all of crypto for that matter) largely depends on the health of BTC which is currently in a down trend. If BTC can find some relief, I think we'll likely see BNB breakout above the failing wedge.
Trade closed: target reached
I predicted the drop to the exact cent (12.05) and then the breakout of the wedge thereafter. Anyone who traded this would have made 20%+
My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.
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