BNB chart explained ( General Idea )
Hello traders, welcome back.
I decided to write down about my own watchlist during this unstable market, this way you can have a solid strategy on how to react in certain scenarios. during these series of Idea I will be talking about how the charts are looking, support and resistances and also what to expect in short, mid and long term.
* Keep in mind this is not a financial advice *
Now as you can see, BNB has been in a long term uptrend channel, everytime we tried to break out of it, we got rejected on around 650$ resistance zone.
you can also see our major support and resistance zones.
recently we broke the orange trend line, now what I expect is a ride toward our first support zone, I believe its going to be the reversal point, by any chance if we break that level the next support would be our reversal zone ( very low possibility ).
so basically you can DCA and place buy orders on each level, your goal would be ATH and after that if we broke the 650 there is going to be a bull market.
Good luck.
Don't forget to like and subscribe.
I decided to write down about my own watchlist during this unstable market, this way you can have a solid strategy on how to react in certain scenarios. during these series of Idea I will be talking about how the charts are looking, support and resistances and also what to expect in short, mid and long term.
* Keep in mind this is not a financial advice *
Now as you can see, BNB has been in a long term uptrend channel, everytime we tried to break out of it, we got rejected on around 650$ resistance zone.
you can also see our major support and resistance zones.
recently we broke the orange trend line, now what I expect is a ride toward our first support zone, I believe its going to be the reversal point, by any chance if we break that level the next support would be our reversal zone ( very low possibility ).
so basically you can DCA and place buy orders on each level, your goal would be ATH and after that if we broke the 650 there is going to be a bull market.
Good luck.
Don't forget to like and subscribe.
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