$BNB/USDT 3h (Binance Futures) Rising wedge facing resistance
Updated
Binance Coin broke bullish but is forming a bearish pattern on lower TF.
I believe a pull-back is likely, maybe even down to a retest of 200MA, let's give it a try!
Current Price= 614.435
Sell Entry= 614.670 - 624.430
Take Profit= 566.490 | 531.855 | 508.681
Stop Loss= 659.620
Risk/Reward= 1:1.35 | 1:2.22 | 1:2.8
Expected Profit= +17.24% | +28.40% | +35.86%
Possible Loss= -12.82%
Fib. Retracement= 0.382 | 0.618 | 0.786
Margin Leverage= 2x
Estimated Gain-time= 2 weeks
I believe a pull-back is likely, maybe even down to a retest of 200MA, let's give it a try!
Current Price= 614.435
Sell Entry= 614.670 - 624.430
Take Profit= 566.490 | 531.855 | 508.681
Stop Loss= 659.620
Risk/Reward= 1:1.35 | 1:2.22 | 1:2.8
Expected Profit= +17.24% | +28.40% | +35.86%
Possible Loss= -12.82%
Fib. Retracement= 0.382 | 0.618 | 0.786
Margin Leverage= 2x
Estimated Gain-time= 2 weeks
Trade active
First entry filledBinance got rejected perfectly so far, let's see if it breaks down the TL now or bounce again...
Trade closed: target reached
TP1 reached with +12.66% (2x) and +0.99RLet's adjust the first target for Binance Coin to secure the trade here.
Trade closed manually
Was closed at 2nd entry with -3.12% (2x) after TP1Seems like Binance Coin was too strong to retrace down further, that is why I adjusted the 1st target the other day.
PC bot closed remaining position at 2nd entry (624.43$) as it does it automatically, but I am still hedging manually here with higher SL.
I am expecting a deeper dip in crypto market so I will keep an eye on it for a possible pull-back entry in order to long, maybe on 200MA retest!
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