BNB UPDATE (1) CUP AND HANDLE - 45$ !
Updated
Traders,
Here we have BNBUSDT 1W chart.
As a coin forming this pattern tests old highs, it is likely to incur selling pressure from investors who previously bought at those levels; selling pressure is likely to make price consolidate with a tendency toward a downtrend trend for a period of four days WHICH WE HAD AS HANDLE to four weeks, before advancing higher. A cup and handle is considered a bullish continuation pattern and is used to identify buying opportunities.
However some of people thinks It's too risky to buy at the ATH but to be honest We have a neat opportunity .
A profit target is determined by measuring the distance between the bottom of the cup and the pattern’s breakout level, and extending that distance upward from the breakout. For two arrows on the chart lead us to a 50$ target maximum in the nest few weeks.
Hit agree if you appreciate this...and kindly check my humble work at related ideas.
Regards,
Mohsen
Here we have BNBUSDT 1W chart.
As a coin forming this pattern tests old highs, it is likely to incur selling pressure from investors who previously bought at those levels; selling pressure is likely to make price consolidate with a tendency toward a downtrend trend for a period of four days WHICH WE HAD AS HANDLE to four weeks, before advancing higher. A cup and handle is considered a bullish continuation pattern and is used to identify buying opportunities.
However some of people thinks It's too risky to buy at the ATH but to be honest We have a neat opportunity .
A profit target is determined by measuring the distance between the bottom of the cup and the pattern’s breakout level, and extending that distance upward from the breakout. For two arrows on the chart lead us to a 50$ target maximum in the nest few weeks.
Hit agree if you appreciate this...and kindly check my humble work at related ideas.
Regards,
Mohsen
Trade active
Trade active
Trade active
Trade active
Trade active
Trade active
Published on 16th May and we are still active on this trade, Fundamentally and technically it's doing great and we still have our mega Target 45$Trade closed: target reached
Trade active
Market analysis, scalping calls, Binance Alts signals and real time news & Sentiment on:
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Telegram: t.me/MO_Trading
Twitter: twitter.com/MoTradr
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