BNB / USDT. Ascending channel. Cycle. Wedge. Reversal zones.

Updated

Coin exchange - binance.
The main trend is an uptrend. Formed an ascending channel.
The secondary trend is a downtrend. Formed a downward wedge.

Cycle 1 is about 370 days.
Cycle 2 is about 470 days.
Cycle 3, if confirmed, about 570 days.

The coin is promising for the accumulation of position, as long as the Binance exchange exists and is in the hype of the crypto trend.

ENTRANCE
1) on the breakthrough of the line of resistance of the wedge.
2) confirmation of the support of the upward channel. Support will be the rising trend line of the channel.

Stop loss
Under key support levels during your entry into the market.
Do not forget to move Stop Loss during the price increase, but take into account the volatility of the coin.
Particular attention is given to the potential reversal zone of the minor trend and the support line of the rising channel.

TARGET
All levels and algorithm of work on the chart. The coin is suitable for high-volume positional trading.

Note

There is a breakthrough of the wedge resistance line

Trade closed: target reached

+ 58% second zone since the breakthrough of resistance reached

Trade closed: target reached

Price reached wedge base levels.

Note

An uptrend is developing.

Trade closed: target reached

Long + 61%
Short + 70% (the price fell below, but the last targets were in this zone).
Long + 125%
Short + 9%
Long + 61% (the trend continues).

Note

+ 530% from the secondary trend reversal zone (from the squeeze minimum over + 1144%)

Trade closed: target reached

the price reached the last target of $ 144 (maximum $ 148) C trend reversal (safe entry) + 1135% (not the minimum).

Note

Since the trend reversal + 2711% ($ 355), the price stayed under the resistance level 144 for 7 days, but still broke through it. At the moment, the price is in an uptrend (green trend line). There is a breakout of the local downtrend line, there are attempts to gain a foothold above it. Trading with the trend.

Note

+ 225% From the breakout of the resistance of the triangle. The price is developing in an uptrend. From the minimum entry point more than + 5500% (the trading idea was published when "faith was killed"). On the contrary, faith is strong now. This is a reason to think about everything that is happening now and perhaps your mistakes in the past and potential in the future.

SpartaBTC

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