Triangle about to break lower. Channel Down continuation on 1D.The Binance Coin is on a bearish channel both on 4H (MACD = -0.021, B/BP = -0.0812) and 1D (MACD = -0.384, B/BP = -0.4405) but is currently on a deceleration due to the Triangle that is creating Higher Lows on 1D (Highs/Lows @ 000). If 8.89 breaks (most likely due to the underlying 1W bearish trend) then the Triangle is void and the Channel Down can continue to a Lower Low. We are still short on BNBUSD with a TP = 7.5154.
Binancecoinusd
Lower High on 1D made. Bearish continuation.BNBUSD eventually made a Lower High on the 1D Channel Down (RSI = 38.939, MACD = -0.287, Highs/Lows = -0.6415, B/BP = -1.7404) and was emphatically rejected (STOCHRSI = 0.000, Williams = -89.646). This strong rejection was just above the 0.5 Fibonacci retracement level (11.773), which indicates that it is most likely to be sustainable. We remain short with TP = 7.5154.