readCrypto

Binance Coin (BNB) - February 7

readCrypto Mod Updated   
BINANCE:BNBUSDT   Binance Coin / TetherUS
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BNB is updating New High with a lot of gains.
Therefore, be aware of volatility.

We need to see if we can get support from 69.5203-72.4773 and climb above 81.3482.

You can touch 54.7354-57.6924 due to volatility.

If it falls at 54.7354, a short stop loss is required.

If it falls at 45.8645, Stop Loss is necessary to preserve profit and loss.
However, you need to trade carefully as you can touch the uptrend line (3) and go up.

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** All indicators are lagging indicators.
So, it's important to be aware that the indicator moves accordingly with the movement of price and volume.
Just for convenience, we are talking upside down for interpretation of the indicators.
** The wRSI_SR indicator is an indicator created by adding settings and options from the existing Stochastic RSI indicator.
Hence, the interpretation is the same as the conventional Stochastic RSI indicator. (K, D line -> R, S line)
** The OBV indicator was re-created by applying a formula from the DepthHouse Trading indicator, an indicator that oh92 disclosed. (Thank you for this.)
** Check support, resistance, and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All explanations are for reference only and do not guarantee profit or loss on investment.

Explanation of abbreviations displayed on the chart
R: A point or section of resistance that requires a response to preserve profits
S-L: Stop Loss point or section
S: A point or segment that can be bought for profit generation as a support point or segment

(Short-term Stop Loss can be said to be a point where profits or losses can be preserved or additionally entered through installment transactions. It is a short-term investment perspective.)

GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they do not trade 24 hours a day.
G1: Closed price
G2: Market price at the time of opening
(Example) Gap (G1-G2)
Comment:
(BNBUSDT 1D chart)
Check the established Fibonacci support and resistance points.

[Example of exchange chart setup]

(Binance)
www.tradingview.com/x/S94aDxa8

(Upbit)
www.tradingview.com/x/DF6cGh3G/
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.