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Binance Coin / TetherUS
Short

BNBUSDT Potential Bear Action

By firmestudio
Updated
Potential bearish scenario to this asset. Price action is suggesting a further drawdown to the 239USDT demand region as the actual pullback seems to be accomplished. The reciprocal AB=CD pattern projection is reinforcing this idea, as a Head and Shoulders pattern is likely in formation. Thus, on this hypothetical 30m scenario, the price can made a ranging interacting w/ the neckline. Chaikin Money Flow hidden divergence & below zero + Awesome oscillator twin peaks in formation + Fisher Transform bear crossing.
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Price action will revisit 239 again
abcdchartpatternAB=CDBearish PatternsbearmarketdemanzonedrawdownFibonacci ConfluenceHead and ShoulderspullbacktraderangingmarketshortpositionSupply and Demand
firmestudio

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