BNBreally nice setup, orange line is resistance and so is the blue dashed line, we have formed a nice cup and handle pattern, short term target is $314
never fade CZ
Note
BNB pumping on news, the market is reacting, it broke the cup and handle pattern but it didn't break the ascending channel resistance!CZ should do a post soon this could send it to much higher levels, sometimes you don't need to know TA, you can just be a news trader
Note
the ascending channel is a bearish pattern and it is a strong one and as you can see we broke down from this pattern which was obviously fueled by CZ stepping down as CEO from Binance, there is a big chance BNB can come down to $205 level Note
BNB has formed a bearish pennant and $186 is the measured move if that white support line does not hold
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.