BNBUSDT One last flush possible before recovering

Jun 14, 2022

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For this particular analysis on the BINANCE COIN we are using the BNBUSDT symbol on the Phemex exchange.
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The idea is on the 4H time-frame where BNB is consolidating following the strong selling of the past 3 days. We are below the 4H MA50 (blue trend-line) and the 4H RSI recovering from a deep collapse below the 20.00 highly oversold levels. The last time we saw the exact same sequence on these indicators was during the early May sell-off. If the market is following that pattern, then we are at the short consolidation before the final collapse to the -0.5 Fibonacci extension level. That is currently around 151.75. Traders may sell this with a tight SL on today's High or wait for a buy on the -0.5 Fib, unless the 4H MA50 breaks first.



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