BNB: HITTING THE RESISTANCE.
Hey guys, here's a quick BNB update for you all. I hope this will be helpful.
Timeframe: 3 hours.
Update: Lately, BNB has been pushing hard to remain bullish, and recently it has come to a decisive point where BNB is facing the resistance of $292. Any coin that faces resistance always has a risk of getting rejected depending on the RSI move, the volume, and fundamentals. In the case of BNB, the RSI is in the overbought zone, with no big volume, and no major events. If the rejection takes place then we may see BNB back to the $280 to $270 level. Even if we see a breakthrough, BNB will still have to face the $300 resistance level. Once, BNB confirms a rejection, we can go short on it.
Sadly, I did not scalp BNB but for those who are long on BNB in shorter TF, it'll be good to book some profits.
That's it from my end. Thank you and trade safely.
Timeframe: 3 hours.
Update: Lately, BNB has been pushing hard to remain bullish, and recently it has come to a decisive point where BNB is facing the resistance of $292. Any coin that faces resistance always has a risk of getting rejected depending on the RSI move, the volume, and fundamentals. In the case of BNB, the RSI is in the overbought zone, with no big volume, and no major events. If the rejection takes place then we may see BNB back to the $280 to $270 level. Even if we see a breakthrough, BNB will still have to face the $300 resistance level. Once, BNB confirms a rejection, we can go short on it.
Sadly, I did not scalp BNB but for those who are long on BNB in shorter TF, it'll be good to book some profits.
That's it from my end. Thank you and trade safely.
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