Binance Coin's chart (BNBUSDT) looks very similar to Bitcoin, with the exception of the bull-trap in June.
The bull-trap is the most revealing signal of all. It confirms that the bullish wave ended. If a bullish wave ends, a bearish wave starts.
The bearish wave is already in process and after the bull-trap we have the requirements necessary to call the current price action a bearish trend; lower highs and lower lows.
After a three days bounce, weak volume, it seems the resumption of the bearish move comes next. This would imply a lower low compared to 5-August.
Market conditions can change.
This is not for beginners.
Experienced traders only.
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SHORT BNBUSDT
Leverage: 6X
Targets:
3) $490
4) $465
5) $415
6) $385
7) $345
Stop-loss:
Adjust to your own risk tolerance
Potential profits: 196%
Capital allocation: 3%
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This is not financial advice.
Do your own research and planning.
Thanks for your support.
You are appreciated.
Namaste.