BNB/ETH at Strong Support. Levels to Watch. +++
BNBETH pair has reached the low of the Kumo Cloud
which coincide with the lower line of a symmetrical
wedge. The projected Cloud is bullish, so one could expect
support around the 0.223 level. Even a breakout below
could be absorbed, due to the bullish projected cloud.
At current levels it is a wait and hold situation for
potential Eth buyers, since chances are we will see
a bounce from these levels. Only a strong break and hold
below the Cloud and wedge will be bearish and will
likely cause a strong capitulation towards Ethereum.
A bounce will first target the Kijun sen (white line)
and ultimately the upper cloud and upper line of the
wedge.
which coincide with the lower line of a symmetrical
wedge. The projected Cloud is bullish, so one could expect
support around the 0.223 level. Even a breakout below
could be absorbed, due to the bullish projected cloud.
At current levels it is a wait and hold situation for
potential Eth buyers, since chances are we will see
a bounce from these levels. Only a strong break and hold
below the Cloud and wedge will be bearish and will
likely cause a strong capitulation towards Ethereum.
A bounce will first target the Kijun sen (white line)
and ultimately the upper cloud and upper line of the
wedge.
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