BNB_USDT Simple Ascending Triangle
Updated
Taking a look at the supports,resistances and the general direction of the Binance Coin, we can see the following:
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1) Clearly moving in an ascending pattern.
2) Resistance overhead, clearly around the $15 mark.
3) Put all the structures together and you are left with an ascending triangle.
Prediction:
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-A movement back to 21USD
**First move is to 15.50, area or higher, followed be a new support that should be found at $15. This will be the last time you can enter this potential amazing move, if you miss the accumulation zones.
Some things to be concerned about:
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1) Whether or not BTC will have a pull back, which can in turn, pull back the entire market.
2) DO NOT BUY ANYTHING BELOW THE ASCENDING TRIANGLE. That area is the wild west, you are on your own if you decide to buy below that white trend line.
3) Consider taking profits along the way, there is no guarantee that price will reach the end target. How you decide to take profits is entirely upto you.
4) You can also consider not trading or stop trading and take a loss or profit if BNB simply moves sideways and outside the ascending triangle. This one is upto you.
5) Buy zone is not absolute and I do see that the lower support zone is also a valid option, but you can't always get exactly what you ask for. If the second zone becomes available and you didn't buy in the first zone, consider yourself lucky.
**Final disclaimer** What you have read here is not financial advice but my analysis and personal plan of investment. What you decide to buy is entirely your responsibility. You carry 100% of the risk and at the same time 100% of the reward. Please remember to do your own research before investing in or trading anything.
-May BTC Reach Mars Before Elon Musk
=================
1) Clearly moving in an ascending pattern.
2) Resistance overhead, clearly around the $15 mark.
3) Put all the structures together and you are left with an ascending triangle.
Prediction:
=================
-A movement back to 21USD
**First move is to 15.50, area or higher, followed be a new support that should be found at $15. This will be the last time you can enter this potential amazing move, if you miss the accumulation zones.
Some things to be concerned about:
=================
1) Whether or not BTC will have a pull back, which can in turn, pull back the entire market.
2) DO NOT BUY ANYTHING BELOW THE ASCENDING TRIANGLE. That area is the wild west, you are on your own if you decide to buy below that white trend line.
3) Consider taking profits along the way, there is no guarantee that price will reach the end target. How you decide to take profits is entirely upto you.
4) You can also consider not trading or stop trading and take a loss or profit if BNB simply moves sideways and outside the ascending triangle. This one is upto you.
5) Buy zone is not absolute and I do see that the lower support zone is also a valid option, but you can't always get exactly what you ask for. If the second zone becomes available and you didn't buy in the first zone, consider yourself lucky.
**Final disclaimer** What you have read here is not financial advice but my analysis and personal plan of investment. What you decide to buy is entirely your responsibility. You carry 100% of the risk and at the same time 100% of the reward. Please remember to do your own research before investing in or trading anything.
-May BTC Reach Mars Before Elon Musk
Note
Stop losses at the end of support zones are also valid. Just wanted to add that tidbit. Good Luck Everyone, let's make some $$!!Note
Multiple trend line projections added. Can help aide in confirmation and potential paths.
Trade active
BAM! Buy Target hit. Bought a small position at 13.81.Trade active
These trend lines still active, technically 12.75 stop loss valid only outside of large ascending triangle.
*Bought some more here, bringing my buy average to $13.50.
With a bounce we can hope to see anyone of these projections. If not, I will buy more at the EMA 50 (Not visible here). And if a drop below that mark occurs, I will be holding these precious few binance coins for future trades, no biggie!
Note
New target in photo, 15.20. (If we fail to reach above $15, we might not reach the top.) We can to at least reach an equal high with a higher low for accumulation.
**STOP moved upto 13.25**
There is no reason for us to visit the lower support area again, unless we are going to drop out. Should only drop to reach an accumulation zone never reaching below $14. If all goes well and BTC stays strong, we should see 17 to 18 BNB by no later than 5/21.
Note
Full View Photo
Trade closed: stop reached
Closed out folks! I took some profit at the previous day when we failed to stay above $15 and now looks like were outside the wedge and in no man's land. Bought back a small amount around here but that is strictly for trading purposes. Not any advice for a long or anything at this point. I'm just relaxing, and I advise you to do the same :)
Note
Just a quick update to anyone that owns any binance coin, pay attention here. You should consider taking at least some profits or setting up a stop loss. +25% overnight is huge. I took my profit and will not regret it. I will buy back cheaper or more expensive. Don't care. Will also post a new chart after today.
Disclaimer
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