✴️ Binance Coin Likely Heading Lower (EMA300 Rejection)
Good Friday my fellow Cryptocurrency traders... Is this not a dead-cat bounce?
What one does, the rest follows... Still applies?
We can see EMA300 working as resistance for BNBUSDT.
A strong rejection happened below this level and after a higher low BNB moved up to challenge the same resistance again.
Today we have an early signal of rejection at the same level.
BNBUSDT closing below EMA300 ($252) works as confirmation for this bearish signal which implies lower prices.
➖ Notice the huge volume 21-Nov. (red).
➖ Notice the low volume in the last three days.
If Binance Coin fails to move higher a lower low is set to happen next.
A lower low compared to October, which would mean below $200.
Thank you for reading.
Namaste.
What one does, the rest follows... Still applies?
We can see EMA300 working as resistance for BNBUSDT.
A strong rejection happened below this level and after a higher low BNB moved up to challenge the same resistance again.
Today we have an early signal of rejection at the same level.
BNBUSDT closing below EMA300 ($252) works as confirmation for this bearish signal which implies lower prices.
➖ Notice the huge volume 21-Nov. (red).
➖ Notice the low volume in the last three days.
If Binance Coin fails to move higher a lower low is set to happen next.
A lower low compared to October, which would mean below $200.
Thank you for reading.
Namaste.
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