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BNBUSDT trade ideas

BNB/USDT 1D Chart ReviewHello everyone, I invite you to a quick review of the BNB to USDT chart on a 1-day time frame. As you can see, the price broke the bottom of the upward trend line. As we can see after unfolding the Fib Retracement grid, the price is approaching the strong support level of $540, but if this support is broken we will still be at the level of $490. Looking at the second stone, again using the Fib Retracement grid, we will see the first resistance at $616, then the second one at $658, and then the price may increase to around $723. Looking at the STOCH indicator, you can see that it was moving along the lower border, which may give an attempt to rebound the price.
by cryptodailyuk
BNB - Ranges overview (update)BNB moving nicely and like we noted it in the previous weeks. We closed back within the range and we are currently trading towards the lows of the range and the liquidity sitting around 540$ and 520$ Will be interesting to see how we end the week in the overall crypto market. BTC is currently below its range lows so let’s see where we move from here…you’ll notice most cryptos as always simply mimick and follow BTC. Stay safe and never risk more than 1-5% of your capital per trade. The following analysis is merely a price action based analysis and does not constitute financial advice in any form.
Short
by Patrick2707
A 800% move to $6000 for Binance token (BNB) by September?On the above monthly chart of BNB token there is easily an hour of topic to discuss. However attention spans amongst the equity providers do not afford a detailed explanation so the short version.. 1) Price action is in a legacy uptrend channel since inception with a confirmation of uptrend continuation (unlike LTC). 2) Price action is at resistance after three years of consolidation. This is the third test of resistance. Blue pointing down arrows. 3) Just as with May 2020 prior to the break of resistance, Stochastic RSI previously crossed above 80. (orange arrows). This is the same situation as today. Stochastic RSI remains with momentum for 182 days. Should history repeat, momentum continues until August / September. 4) The bull flag pattern confirms a breakout AND support. A measured move from the flagpole of the last resistance breakout takes price action to $6000. Is it possible price action corrects? Sure. Is it probable? No. Ww Type: trade Risk: <=6% Timeframe for long: You decide Return: 800% over the next 16 weeks
by without_worries
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