Binance Coin can bounce to resistance level and try to break it
Hello traders, I want share with you my opinion about Binance Coin. Looking the chart, we can see how price bounced of resistance line and started to decline to support line, thereby entering to wedge. When price declined, it fell firstly to current resistance level, which coincide with area, but at short time, broke this level and continue to decline to support level. And later BNB made a fake breakout to support line, but soon bounced back and started to grow. Price rose to resistance area and made correction to support level again and continued to move up until to resistance level. After price reached this level, it bounced and a not long time ago fell below resistance area. At the moment Binance Coin trades near this zone and maybe it can fall to support line and then bounce up to resistance area back, where price can make retest and continue rise to resistance level. Also, I think price can break this level, make retest, or at once continue to move up without retest. For this case I set my target at 262.5. 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
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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.