Binance Coin can break support level and exit of triangle
Hello traders, I want share with you my opinion about BNBUSDT. Looking at the chart, we see how the price, after a fake breakout of the support level, bounced and began to move up. Binance Coin formed an upward momentum and, after a small correction, grew to the level 350. The price bounced off the resistance level and began to decline. After several corrections and several repeated tests of the resistance line, the price continued to fall. Over time, Binance Coin created a downward triangle and for a long time trades in the within. In the within of the triangle, the price formed a seller zone 313-315, from which it continued to fall and reached the support level. After retesting the support level, the price increased, re-tested the seller zone and approached the support level, but didn’t test it. Not so long ago, the price made an upward correction, and after retesting the resistance line of the triangle, which coincide with the seller zone, Binance Coin continued to fall. The price is currently trading at level 301 and could break through it and leave the triangle. I think the price after breaking through the support level can continue the downward movement. In this case, I decided to set the targets at level 296 and at level 288. Please share this idea with your friends and click Boost 🚀
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💰Want receive more profitable signals for Crypto & Forex market, write me 👉 bit.ly/4fNijD8
💰Want receive more profitable signals for Crypto & Forex market, write me 👉 bit.ly/4fNijD8
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.