BNTUSDT on HTF
Current PA looks to me like a Wyckoff accumulation schematic that we've seen on BTC and many other coins. We can also observe a cup and handle chart pattern Price is currently at a daily supply zone and has been attacking it for the past two days already. 'X' marks equal lows where we know some stops might be sitting that can be used for liquidity.
Hoping for either one of these scenarios:
A. Price breaks out and retests the flipped supply zone as demand so that we can find a better entry.
B. Not the best but not too bad, price is rejected from the daily supply and then retraces below the 50% fib level which is below 3.794 into one of the daily demand zones where we catch an entry.
Cheers!
Hoping for either one of these scenarios:
A. Price breaks out and retests the flipped supply zone as demand so that we can find a better entry.
B. Not the best but not too bad, price is rejected from the daily supply and then retraces below the 50% fib level which is below 3.794 into one of the daily demand zones where we catch an entry.
Cheers!
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.