Long

What is the next catch on BNBUSDT?

Updated

Confluence reasons

Bearish divergence: The move of the bearish divergence is having a support on $370-$375 USDT .... which its strength is reducing

* Fibonacci Retracement: In the 0% to 100% fibonacci retracement, 50% has been done, which then follows by this little current retracement, which is having $370-$375 USDT as support as well...

So, it's wise to enter the trade when there is an end-of-day close price above 50% fib level followed by a confirmation candle to validate the movement leg.

Entry Price: $445 - $455
Take Profit price: $600 - $620
Stoploss price: $365 (near-support level)
RR: 1:2

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Happy trading CryptoKings!

Note

We can see the 50% level is tested again and still act as resistance, we can patiently wait for breakthrough above the 50% fib level followed by a confirmation candle

Note

Daily price candle should lie above the 50% fib, and next day candle should trade above today's candle 🕯

Trade active

Note

As there is no probability that today's daily candlestick will close above yesterday's daily candlestick, so we wait for tomorrow's daily candle to trade above yesterday's daily candlestick

Skuchies_CryptoKing

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